Government officials and cyber police support legalization of cryptocurrencies in Ukraine

Ukrainian lawmakers and government officials took part in an event dedicated to the regulation of digital assets in Ukraine. One of the unanimous decisions was that cryptocurrencies should be legalized in Ukraine as soon as possible.

During the seminar, organized jointly by the Office of the Co-ordinator of OSCE Economic and Environmental Activities (OCEEA) and the United Nations Office on Drugs and Crime (UNODC), participants discussed international experience in regulating the cryptocurrency market and possible methods of searching, seizing and confiscating illegally obtained tokens.

«Representatives of the Cyberpolice, NABU, and the Financial Monitoring Service spoke. And everyone was in favor of the need to introduce virtual assets into the legislation,» said MP Yaroslav Zheleznyak, who participated in the discussion of Ukraine’s crypto issues.

As for the launch of a national cryptocurrency, Ukraine needs to update its laws and partner with international industry representatives. «Our goal is simple — to make crypto trading in Ukraine legal and safe, but on the principle of „do no harm“, so that the market receives incentives for development and competitive advantages rather than regulation,» Yaroslav Zheleznyak emphasized.

A few days ago, the National Bank of Ukraine (NBU) presented the concept of the digital hryvnia (CBDC). «The development and implementation of the e-hryvnia may be the next step in the evolution of Ukraine’s payment infrastructure. The asset will facilitate the digitalization of the economy, further spread of cashless payments, reduce their cost, increase their transparency, and increase confidence in the national currency in general. This will strengthen the NBU’s ability to maintain price and financial stability as a key to sustainable economic growth,» said Oleksiy Shaban, Deputy Governor of the NBU, at the time.