President Volodymyr Zelenskyy signed the Law of Ukraine On Virtual Assets, adopted by the Verkhovna Rada on February 17. This was reported by the Ministry of Digital Development on Wednesday, March 16.
It is indicated that this law creates conditions for the launch of a legal market for virtual assets in Ukraine. The new market will be regulated by the National Securities and Stock Market Commission.
Signed law:
- determines the legal status, classification and ownership of virtual assets;
- determines market regulators – the National Bank and the National Commission for Securities and the Stock Market;
- creates conditions for the further formation of the legal framework in the virtual asset market;
- determines the list of virtual asset service providers and the conditions for their registration;
- provides for the introduction of financial monitoring measures in the field of virtual assets.
The National Securities and Stock Market Commission will:
- form and implement the state policy in the field of virtual assets;
- determine the procedure for the turnover of virtual assets;
- issue authorizations to VA service providers;
- carry out regulation, supervision and financial monitoring in this area.
The signing of this law by the president is another important step towards bringing the crypto sector out of the shadows and launching a legal market for virtual assets in Ukraine.
