Ukraine has prepared a new version of the draft law “On Virtual Assets” and has already registered it withVerkhovna Rada of Ukraine.
In May the bill was submitted to publicdiscussion and received a wave of criticism for legal illiteracy, distortion of the essence of digital assets, unlimited powers of the Ministry of Digital Development and opportunities for hindering the development of cryptocurrency business in the country.
The document determined the operation and registration of crypto sites in the Ministry of Digital and provided for the mandatory registration of issuers of digital assets in the country.
In the new version of the main cryptocurrency lawthere is no disputed provision regarding the “actual location” digital assets. Concepts such as “exchange”, “token” and “stablecoin” disappeared from the text of the document, generalizing the definition of virtual currency.
If the document is accepted, it will come into forcein three months and will begin to form the country’s cryptocurrency market. The first year is defined as a transition period during which market participants will be exempt from fines for violations of the law.
Subscribe to ForkNews on Telegram
Read this:
In the Verkhovna Rada of Ukraine there was a group for the implementation of blockchain
Payment systems in Ukraine may stop work
Ukraine will make 5% preferential cryptocurrency tax for 5 years
Ukraine adopted a memorandum on the development of blockchain technologies
The cryptocurrency tax bill is registered in the Verkhovna Rada of Ukraine
Ukraine discusses new cryptocurrency bill