The Government of Ukraine approved the final version of the law on money laundering, which relates to virtual Assets and Virtual Asset Service Providers (VASPs) in accordance with the FATF guidelines.
The law considers virtual assets asa means of accumulation, which can also be used in financial crimes - money laundering, fraud and terrorist financing.
The new law contains guidelines onhow the government will control and regulate cryptocurrency trading. One of the provisions is devoted to crypto transactions worth less than 30,000 hryvnias ($ 1,300), of which the government will only monitor the sender's public key.
However, as soon as the transaction amount exceeds this limit, the government will monitor both the sender and the recipient. Verification includes identity and type of transactions.
For companies providing crypto services, the thresholdset at 40,000 hryvnia ($ 1,600). If it is exceeded, organizations must provide the authorities with information on the jurisdiction of traders and their operations.