Ukraine Gov’t To Amplify and Rev Crypto Mass Adoption

Ukrainian interacts with international specialists regarding its crypto framework
Ernst & Young and USAID Financial Sector Reform Initiative attended the event
The Ukrainian government is grateful for the successful result of the event

The Ukrainian regulatory community actively interacts with international specialists on its national crypto framework and the modifications to the law on virtual assets. One of the participants is Ernst & Young; the other is the USAID Financial Sector Reform Initiative.

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For the first time, the National Securities and Stock Market Commission convened its Advisory Council on Virtual Asset Regulation on 1 December. The regulatory experts discussed the revisions to the statute titled “On virtual assets,” which would adjust the National Tax Code to accommodate cryptocurrency regulation.

Several government representatives, the National Bank of Ukraine, expert organizations, and market participants attended the event.

The Chairman of the NCCPR Ruslan Magomedov stated,

The Commission is actively working with international colleagues from Ernst&Young, with the support of the USAID Financial Sector Reform project, and other profile bodies to implement the European MiCA regulation in the Ukrainian virtual asset market.

Magomedov added, “we are grateful for the results we have today and the expertise we have received. It is these joint developments that will be the foundation of key changes to the basic law on virtual assets and the Tax Code of Ukraine.”

In addition, participants at the meeting highlighted the significance of the speedy introduction of the virtual asset market in Ukraine and related activities, as well as the European MiCA regulation (Markets in Crypto assets). Also, become familiar with the already developed revisions to the provisions on the scope, the definition of terms, and the taxation idea of the fundamental law on virtual assets.

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José Gustavo

José is a crypto enthusiast who trades crypto night and day. He loves to share his trading stories and experiences in all his published articles. José likes to hang out and travel to meet new friends. Enjoys sushi, vodka, and tequila.