Ukrainian officials may be required to indicate wallet addresses in the declaration

</span>" src="/wp-content/uploads/2021/04/001249e227571ac8fe215cb35bc91211.jpg" alt="Ukrainian officials may be obliged to indicate wallet addresses in the declaration" /></p>

Ukrainian representatives of the blockchain industry proposed to introduce a law obliging to indicate the addresses of crypto wallets in the declaration.

The Public Union "Virtual Assets of Ukraine" and Blockchain4Ukraine appealed to the National Agency for the Prevention of Corruption (NACP) with an initiative to oblige officials to indicate in declarations the addresses of cryptocurrency wallets on which the declared digital assets are stored.In addition, the owners of these wallets will have to pass identity verification. 

Enthusiasts believe that the term "cryptocurrency" should be replaced with "virtual assets" – thisThe concept is used in the law on the legal status of digital assets in the country.

The new concept includes not only cryptocurrencies, tokens and stablecoins, but also covers NFTs, DeFi tokens and game currencies.

Such use of legal terms will oblige civil servants to declare all types of possible income related to blockchain technology. 

According to the current procedure for declaringcryptocurrencies, officials must disclose the name of the cryptoasset, quantity, value and date of acquisition. Despite the 46,351 military-technical cooperation declared by officials over the past year, NAPK still does not have a mechanism for verifying the veracity of this information.

The submitted proposals should ensure the possibility of factual verification of information and minimize the risks of money laundering obtained by illegal means.

Subscribe to ForkNews on Telegram to stay up to date with the latest from the world of cryptocurrencies