Ministry of Statistics talked about further legalization of cryptocurrency in Ukraine

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The office is developing a new bill with representatives from crypto trading

The Ministry of Statistics talked about further legalization of cryptocurrencies in Ukraine. Photo: newsday.com

The Ministry of Digital Transformation is working on a bill amending the tax code, which is necessary to legalize the virtual asset market. The telegram stated this in the official channel of the Ministry of Digital Affairs.

On 13 July, Alexander Borniakov, Deputy Minister for Digital Transformation, and Mikhail Chobeyan, President of the Blockchain Association of Ukraine (BAU), signed a memorandum for joint work on the bill.


Ministry of Digital Transformation

According to the Ministry of Finance, the memorandum provides for cooperation on:

  1. Coherence with international standards and recommendations to prevent money laundering and terrorist financing in relation to virtual standards;
  2. Develop a state strategy to encourage the development of the region and to create investment conditions for doing business in Ukraine;
  3. Formulation of a concept and conditions for transparency of government processes and the development of public monitoring tools;
  4. Formulating a concept to bring blockchain technology to the work of the state registries and institutions of Ukraine.

The ministry said that cooperation with BAU will become “an important factor in shaping the virtual asset market”, and the creation of a legal framework is “taking into account the wishes of the business”.

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Earlier, we wrote that Ukraine’s Ministry of Digital Transformation proposed a draft law for public discussion on “virtual assets”, according to which the Ministry of Finance will act as a central executive body that shapes state policy in the field of cryptocurrencies circulation And implements.

Read: Law on Cryptocurrency and Financial Monitoring: How it will affect the Ukrainian market

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