Ukrainian regulator presents a plan for managing the cryptocurrency market in the country

The National Securities and Stock Market Commission has outlined its vision of the future regulation of the crypto market in Ukraine. During an expert dialogue in Kyiv organized by International IDEA on March 16, the regulator highlighted three key areas: the implementation of the Travel Rule, the implementation of CARF standards, and the restriction of access for counterparties linked to Russia.

The Commission’s position was presented by Legal Advisor Vita Forsyuk. The participants discussed the risks of using digital assets for covert foreign influence on political processes. Against this backdrop, the regulator explained the approaches laid down in the future regulatory framework.

The Travel Rule provides for the exchange of information on transaction participants between service providers and regulators in accordance with FATF recommendations. The CARF standards developed by the OECD are designed to ensure tax transparency and have been in place in dozens of countries since the beginning of 2026.

Separately, the NSSMC emphasized the need to restrict access to the Ukrainian crypto market for companies and individuals associated with Russian capital. This should reduce the risks of using digital assets for political influence. The regulator also plans to prepare recommendations for the next election cycles.

In a broader context, the reform is still ongoing: the framework bill on crypto market regulation is in the second reading stage. The current position of the Commission shows the direction of the future model — more transparency, stricter reporting rules, and safeguards against Russian influence.