Ukraine is preparing to legalize cryptocurrencies and the virtual hryvnia. The corresponding bill is already being preparedin parliament for the second reading.
The Ministry of Finance website published an interview with the Deputy Minister of Digital Transformation of Ukraine Alexander Bornyakov. During the interview, he stated:
Владельцы криптовалют получат множество advantages. Thanks to the legislative regulation of the sphere, they will at least be able to protect the rights to their virtual assets. They will also be able to legally exchange and declare cryptoassets. This process will be completely “white”.
The Deputy Minister expects that thanks to the billa separate market for intermediary services will appear in the country for payment for goods in cryptocurrency, their storage, exchange. The new law will make virtual assets legal and familiar to society.
Crypto exchanges that plan to operate in Ukraine will need to obtain special permission. The conditions for obtaining a permit will be simplified – the exchange will not need to obtain a license.
All exchanges will be required to conduct mandatory customer verification and adhere to all regulatory requirements.
According to Bornyakov, the text of the billamendments to the Tax Code are still being prepared. He expects that a plan for taxing income generated from trading cryptocurrencies will be published in September this year.
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