President of Ukraine Volodymyr Zelensky signed a law on virtual assets, which refers this market to the regulation of the National Securities and Stock Market Commission and the National Bank of Ukraine (NBU). According to the Telegram channel of the Ministry of Digital Transformation of Ukraine, with the start of this law, the following changes will be introduced in Ukraine:
– foreign and Ukrainian crypto exchanges will work legally;
– banks will open accounts for crypto companies;
– Ukrainians will be able to protect their savings in virtual assets;
– the state will guarantee judicial protection of rights to virtual assets.
In addition, the National Securities and Stock Market Commission will formulate and implement a policy in the field of virtual assets; determine the procedure for the turnover of virtual assets; issue authorizations to VA service providers; exercise supervision and financial monitoring in this area.
According to the Ministry of Digital Development, this is another important step towards the de-shadowing of the crypto sector and the launch of a legal market for virtual assets in Ukraine. “Since the beginning of the war, crypto assets have become a powerful tool for attracting additional funding in support of the Armed Forces of Ukraine. During the three weeks of the war, the Crypto Fund of Ukraine raised more than $54 million in crypto assets. Today, the president has signed the law on virtual assets. We are launching a legal market for virtual assets in Ukraine and bringing the crypto sector out of the shadows,” Deputy Prime Minister, Minister of Digital Transformation of Ukraine Mykhailo Fedorov wrote on his Telegram channel.