Ukraine is not going to regulate the crypto industry

The Ministry of Digital Transformation of the Economy published the Virtual Assets Manifesto, declaringloyal cryptocurrency regulatory policies.

The Manifesto recognizes the value of the Ministry of Digitalcryptocurrencies for the economic development of the country. The regulator plans to promote the development and implementation of technologies based on "open decentralized networks." Among the main priorities are the development of digital assets, the introduction of blockchain technology in various industries, the tokenization of the economy and the use of artificial intelligence.

Lawmakers promote a loyal attitude towards the crypto industry, which is aimed at “facilitating” the interaction between financial and virtual asset markets.

Regulators believe that blockchain isself-regulating and self-organized system. The document states that DLT provides a high degree of privacy through the use of open source protocols, free movement of assets and user consensus.

Officials believe that, in essence, the technology does not need government regulation and strict control. 

The Ministry of Digital has taken a course to support innovation and the development of loyal legislation that will accelerate the development of the digital economy in the country.