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Nations all over the world are currently sceptical about the legality of cryptocurrency. But Ukraine is likely to exhibit a difference in this aspect. The suspense that Ukrainian government maintained by not disclosing their stand, is about to break. In all probability, Ukraine would favour the presence of digital currencies. The Chairman of National Securities and Stock Market Commission gives an implication. Ukrainian government may permit the legalisation of cryptocurrencies as financial assets.
The cryptocurrency industry prevalent in Ukraine would operate under regulations. The chairman of NSSMC supports this stand of Ukraine. The scope of digital currencies to function as financial instruments must be provided.
The Chairman expressed his support by stating that he would place the topic at the meeting of Financial Stability Council. The meeting would be held in the capital city of Ukraine, Kiev.
According to the Chairman, “The point of no return is already in the past. The crypto industry is becoming an integral part of economic and financial relations.”
It is imperative for Ukraine to develop cryptocurrency standards. These old standards are prevalent in the domain of digital currency. Along with NSSMC, the Cyberpolice of Ukraine is also supportive towards legalising cryptocurrencies.
Serhiy Demediuk, the head of the Ukrainian Cyberpolice Department commented, “Today there is a need to resolve at the legislative level the issues related to the use of cryptocurrencies as soon as possible, as well as the introduction of the necessary taxation of transactions on the purchase and sale of cryptocurrencies. In addition, it’s necessary to determine the respective rules for the functioning of Ukrainian cryptocurrency exchanges and cryptocurrency exchanges points.”
Source: https://bcfocus.com/news/cryptocurrency-to-possibly-get-legalised-as-a-financial-asset-in-ukraine/9220/