Ukraine is preparing draft legal acts to legalize crypts and currencies, according to the position of a deputy of the Ukrainian parliament, Alexei Mushak

05/16/2018

Mushak attached a copy of the draft legislative document, encouraging readers to comment on the terms of the regulations proposed for the cryptocurrency market:

“We are going home to create conditions for digital tokens and cryptocurrencies in Ukraine, which is the result of many meetings and work of many people, and many nuances remain to be discovered. The final version will be ready in two weeks Please, comment and edit, the opinions of market practitioners are particularly important ”

The document states that the purpose of the legislation is to create a “free and transparent” digital asset market in Ukraine, specifying the rules for storing, using and exchanging cryptocurrencies, digital tokens and smart contracts. It proposes regulatory measures to prevent the use of cryptocurrencies for money laundering, terrorist financing and other criminal activities.

The document also supports the use of technology (DLT) also known as Blockchain in the public sphere, distinguishing public relations, health care and education as areas of special importance.

Since the publication, the draft legislative document already contains extensive comments from Ukrainian readers, one of whom raised the suggestion to regulate the initial ICO offer separately to other digital assets, taking into account that the “widespread scam” in the ICO space has generated a generalized distrust of the crypto-currencies.

Mushak replied that there was still no agreement in the Ukrainian parliament on how to treat the ICO, noting fears that excessively stringent measures could hinder development.

In May, the Ukrainian National Securities and Exchange Commission (SSMCS) announced that it would consider recognizing cryptocurrencies as a financial instrument, suggesting that the regulations will have to be determined at the national level, considering that international standards are still “far away”