Committee on Digital Transformation recommends changed Ukrainian crypto law to accept - regulation

The law "about virtual assets", the attempt by Ukraine to regulate its growing crypto room, was revised again and recommended for the final acceptance. An important parliamentary committee has spoken out for the bill against which the Ukrainian President had lodged his veto this month.

Ukrainian MPs vote in November about the updated law on "virtual assets"

The saga about the long -awaited legislation of Ukraine to regulate cryptocurrencies and the associated activities comes to an end. The Committee on Digital Transformation in the Werchowna Rada, the Ukrainian Parliament, has discussed the changed law "about virtual Vermögeses ”this week and supported the latest changes.

The law has been updated after it was back came back to the parish at the beginning of October The legislative corporation. State Head motivates his decision above all with the argument that scheduled establishment of a new regulatory authority for the cryptom market would be too expensive for the state.

Zelensky suggested that the National Securities and Stock Market Commission (NSSMC) be instructed with the supervision. The NSSMC will also regulate virtual assets based on securities, and if they are covered by Fiat currencies, the National Bank of Ukraine (NBU) is the responsible authority.

The changed law will have their say on November 2 and will be discussed during an extraordinary meeting of the parliament, reported the crypto news agency forlog. If the legislator accepts it again, the president must sign a law within 10 days in accordance with the state's constitution, according to the online publication.

Ukrainian MP approved The first version of the law" About virtual assets "in the second Reading in early September. The draft had already made some changes after its first reading in December last year. That revision came to criticism from various supervisory authorities, including the NBU Nssmc.

Legislation recognizes cryptocurrencies as intangible goods that are divided into two main categories and unsecured. They were denied the status of a statutory payment and they are not accepted as a means of payment for other goods or services. However, this would be possible by conversion into the national fiat currency by intermediate traders.

Such crypto service providers must adhere to the country's existing regulations to combat money laundering, introduce identification and review procedures and monitor financial transactions. Cryptocurrency exchanges require approval from the Ministry of Digital Transformation to be legally active in Ukraine, a leading company in Ukraine Krypto introduction . Companies that deal with virtual assets can open up bank accounts and apply for legal protection.

Do you expect the Ukrainian legislator to finally say goodbye to the law "about virtual assets"? Let us know in the comment area below.

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