Ukraine changes tax code to legalize digital assets

The Ministry of Digital Transformation of Ukraine continues to develop a mechanism for legalizing cryptocurrencies.

In particular, application options are being considered.changes to the tax code. This will allow token operations to be removed from the shadows and to charge appropriate fees from them. This was announced by the press center of the Ministry of Finance on its Telegram channel.

The department reminded that as early as July 11 inThe Verkhovna Rada has registered a bill on the so-called virtual assets. Not only government experts participated in its development, but also representatives of the local blockchain association.

The Ministry of Figures has signed a partnership agreement with the Blockchain Ukraine association, which states that the bill on regulating relations in the cryptosphere will take into account the interests of all entities.

Authorities expressed interest inregulatory standards are fully consistent with international standards and comply with legislation in the field of combating the financing of terrorism and money laundering.

The agency also added:

"Cooperation with the BAU [Blockchain Association] will be a major factor in the formation of the cryptocurrency market.This once again proves that the legal framework for the virtual asset market is not imposed by the authorities."

Recently it became known that the Ministry of Digitaltransformation of Ukraine expressed a desire to receive from the government the status of a regulator of the blockchain industry. The corresponding bill was submitted to experts for consideration in May.

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