Ukraine Adopts Law “On Virtual Assets”

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Ukrainian president Volodymyr Zelensky has signed the law “On virtual assets,” which regulates the circulation of cryptocurrencies in the country.

Thanks to the document, cryptocurrency exchanges will be able to legally operate in Ukraine, and banks will be able to open accounts for crypto-related companies.

Now, the owners of digital currency are guaranteed judicial protection of their rights.

According to the document, the regulation of the market is distributed between the National Bank (NBU) and the National Commission for Securities and Stock Market (NCSM). The National Bank is responsible for virtual assets secured by currency values.

Regarding the regulation of the circulation of cryptocurrencies and virtual assets, secured by securities or a derivative financial instrument, is assigned to the National Securities and Stock Market.

According to sources, the Law will come into force after the adoption of amendments to the Tax Code.

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