Business news from Ukraine

BIDEN TO SIGN LEND-LEASE LAW FOR UKRAINE TODAY

On Monday, May 9, US President Joseph Biden intends to sign law S. 3522 “Lend-Lease Act in Defense of Democracy in Ukraine of 2022,” according to Biden’s public schedule for Monday.
As noted, the signing will take place at 14.45 (21.45 Kyiv time).

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HOUSE OF REPRESENTATIVES OF US CONGRESS PASSES LAW ON LEND-LEASE FOR UKRAINE

On Thursday evening, the US House of Representatives adopted a law on lend-lease and the protection of democracy in Ukraine, head of the Office of the President of Ukraine Andriy Yermak said.
“Lend-lease for Ukraine has finally been opened. The law has been voted on. Thanks to our allies,” Yermak wrote on his Telegram channel on Thursday evening.
The text of the document refers to granting the US President expanded powers to transfer or lease defense assets to Ukraine to “protect the civilian population from Russian military invasion” and for other purposes.
“After the adoption of the act, the chairman of the White House is obliged within 60 days to establish accelerated procedures for the delivery of products. The Lend-Lease Act allows us to significantly speed up the supply of weapons, transport, food and aid from the United States. And all this will allow us to drive the Russian army out of our territories” , – wrote the head of the OP.
He noted that Lend-Lease “means the US confidence in Ukraine’s victory over Russia.”
“This will be an important victory for our indestructible people, who were able to unite the civilized world around them in the fight against the Russian evil,” Yermak summed up.

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PRESIDENT OF UKRAINE SIGNS LAW ON LEGALIZATION OF VIRTUAL ASSETS

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.

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UKRAINE ADOPTS LAW ON VIRTUAL ASSETS

The Verkhovna Rada has adopted, taking into account presidential amendments, the 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). Head of the National Securities and Stock Market Commission Ruslan Magomedov noted that the president proposed to attribute this market to existing regulators, since the sources of covering the costs of creating a new body have not been determined.
“Therefore, the President proposes to refer the activities and regulation of the virtual assets market to the competence of the already existing financial regulators – the National Securities and Stock Market Commission and the National Bank of Ukraine,” Magomedov said, speaking from the rostrum of the parliament.
The law, subject to presidential amendments, classifies services related to the circulation of virtual assets as financial services. As noted by the main scientific and expert department of the Verkhovna Rada apparatus, the document, taking into account the presidential proposals, involves cooperation between the two regulators of such services, but it is not indicated by the provisions of which legislative act they will be guided in matters of cooperation and coordination in this area – this law or the law on financial services and state regulation of the financial services market.

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UKRAINE ADOPTS LAW ON MEDIATION

 The Verkhovna Rada at its meeting on Tuesday, with 302 votes, supported bill No.3504 on mediation at second reading. The bill defines the legal framework and procedure for mediation in Ukraine. In particular, the mediation procedure will be applied in any conflicts (disputes) arising in civil, family, labor, economic, administrative legal relations, as well as in criminal proceedings when drawing up agreements on reconciliation between the victim and the suspect, the accused, and other areas of public relations.According to the explanatory note to the document, individuals and legal entities can apply to a mediator for mediation both before going to court, the Arbitration Court, International Commercial Arbitration, and during judicial, arbitration or arbitration proceedings or during the execution of the decision of the listed courts.Mediation will be carried out by mutual agreement of the parties to the mediation in accordance with the principles of voluntariness, confidentiality, independence and neutrality, impartiality of the mediator.The status of a mediator can be obtained by any individual who has a higher education and has completed basic training in the are of mediation in Ukraine or abroad.

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RAZUMKOV SIGNS LAW ON PREVENTING ANTI-SEMITISM IN UKRAINE

Chairman of the Verkhovna Rada Dmytro Razumkov signed a law on preventing and countering anti-Semitism in Ukraine.
As noted in the card of the relevant bill No. 5109, the speaker signed it on September 29 and handed it over to President Volodymyr Zelensky for signature.
The bill defines anti-Semitism, prohibits anti-Semitism and its manifestations, and provides for liability for violation of anti-Semitism legislation.
According to the document, manifestations of anti-Semitism are, in particular, the call, concealment or justification of killing or harming persons of Jewish origin, giving false information, hateful statements about them, denying the fact of the persecution and mass extermination of Jews during the Second World War (Holocaust), making, distribution of any materials containing anti-Semitic statements, as well as public use of materials, symbols and images of anti-Semitic content.
At the same time, the law includes deliberate damage, destruction or desecration of buildings, other structures belonging to persons of Jewish origin, Jewish communities and public Jewish organizations, as well as religious or religious buildings (houses), burial places of persons of Jewish origin, monuments, as and the public use of materials, symbols and images of anti-Semitic content.
At the same time, the law includes deliberate damage, destruction or desecration of buildings, other structures belonging to persons of Jewish origin, Jewish communities and public Jewish organizations, as well as religious or religious buildings (houses), burial places of persons of Jewish origin, monuments, memorial signs dedicated to Jews, based on anti-Semitism.
Persons guilty of violating the norms of this draft law will incur civil, administrative and criminal liability in accordance with the law, as well as compensation for material damage and moral harm caused as a result of anti-Semitism, its manifestations, will be carried out in the manner determined by the legislation of Ukraine.
This law will come into force the next day after its publication in the parliamentary newspaper Holos Ukrainy (Voice of Ukraine).
As reported, on September 22, the Verkhovna Rada adopted draft law No. 5109 at the second reading and in general.

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