Date: 3 months ago   Category: Economy

Ukraine plans to recognize cryptocurrencies a financial asset


The Verkhovna Rada of Ukraine drafts the bill defining cryptocurrency as financial assets. The authorities can accept the document until the end of the current year or at the beginning of the following.

the Verkhovna Rada of Ukraine drafts the bill defining cryptocurrency as financial assets. The authorities can accept the document until the end of the current year or at the beginning of the following.

As well as other European countries, such as Malta, Gibraltar and Switzerland, Ukraine plans the fastest regulation of digital assets, accepting the same legal mechanisms in determination of the status of cryptoassets.

Though approach of Ukraine can seem unexpected, considering that other countries are ambiguous in this question, the country not the first who compares digital assets to actions. Initial offers of coins (ICO) which instead of sale of shares offers coins carry almost all countries to operations with securities what you won't tell about cryptocurrency, such as bitcoin or
National regulators at last have considered a matter of substance and have decided on the status of cryptocurrency. According to the head of the national Securities Commission and to the stock market (NKTsBFR) of Timur Hromayev, the cryptocurrency will be recognized as a financial instrument. The bill will consider cryptocurrency not as means of payment, and as the instrument of accumulation of means, like stocks and bills.

Timur Hromayev considers that first of all it is necessary to define the principles which will help to provide development of the cryptocurrency sector in the country. Ahead creation of favorable economic and legal conditions for development of the cryptoindustry, introduction of the taxation, supervising functions, etc. of

For the first time Ukraine has announced the plans to release regulation of cryptoassets in 2015. The initial idea consisted in regulation of trade in cryptocurrencies and the campaigns ICO. At that time Hromayev spoke about issue of licenses to the natural persons who are engaged in digital currencies and obligatory disclosure of information. However at the moment, it seems, the attention of Ukraine has switched to other purpose. Intention of regulators to rigidly take under control the cryptoforeign exchange market and financial flows for the taxation is obvious.

In spite of the fact that at the end of 2017 in the Verkhovna Rada of Ukraine there were three bills which concern the cryptoforeign exchange market, a situation to this day hasn't changed.

In the last years repeatedly sounded statements for need of legalization of the market of cryptoassets, but specific actions haven't been taken. Meanwhile the popularity of cryptocurrency among the population grows. The Ezhednevnya the volume of operations with cryptoassets in the country has reached 2 million dollars. Nearly 13% of Ukrainians already own this or that cryptocurrency.

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