On September 8, the Verkhovna Rada of Ukraine adopted in the second reading and in general the bill “On Virtual Assets”,regulating operations with cryptocurrencies in the country. The document was supported by 276 deputies.
According to the document, virtual assets (VA) are recognized as intangible goods. They are divided into secured and unsecured.
VAs are not a means of payment in Ukraine and cannot be exchanged for property or services.
Market participants obtained the right to judicial protectionrights to VA, to open bank accounts for settlements on transactions with VA, as well as independently determine and set the value of VA in the course of transactions.
They are also required to comply with anti-money laundering and anti-terrorist financing laws.
The document introduces the definition of financial IA,the issuer of which must be a resident of Ukraine. They can be backed by currency values - in this case, the turnover is regulated by the National Bank, as well as securities or derivatives - regulated by the National Commission on Securities and Stock Market.
On December 2, the Verkhovna Rada adopted the draft law "On virtual assets" in the first reading.
By the second reading, the document has changed, but the financial regulators of Ukraine criticized the updated draft law.
Subsequently, the text was updated again, taking into account the comments. In June, the Committee on Digital Transformation recommended the adoption of the bill.
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