Ukraine Legalizes Trade in Cryptocurrency and Digital Assets

Ukrainian President Volodymyr Zelenskyy signed into law a new act aimed at opening up the Ukrainian market for lawful digital asset and cryptocurrency trade. The new market will be governed by the Ukrainian National Commission on Securities and Stock Market, in cooperation with the National Bank of Ukraine.

The act specifies, among other things, the legal status and classification of digital assets, and the ownership rights associated with them; the conditions for registration of digital asset providers; and the measures for financial regulation of the market. Under the act, the Ukrainian National Commission on Securities and Stock Market will be responsible for determining the national policy concerning digital assets, issuance of certificates for digital asset providers, and the ongoing monitoring and regulation of the market.

The act will only enter into force once necessary amendments to the Tax and Civil Codes are implemented by the Ministry of Digital Transformation.

CLICK HERE to read the Ukrainian government press release on the new act.