Cryptocurrency regulation in Ukraine may be changed towards the EU

Ukraine will be one of the first countries to implement the legal norms of the MiCA (Markets in Crypto-assets) directive. Yuriy Boyko, a member of the National Securities and Stock Market Commission of Ukraine, said this on the website of the financial regulator. According to him, Ukraine will be one of the first countries to implement the MiCA regulation into national legislation.

«The text of the draft law is almost ready and we will soon start discussions with the main stakeholders,» Boyko said.

The directive was also supported by MP Yaroslav Zheleznyak, who wrote on his Telegram page that the authorities are already working to make «cryptocurrencies legal in Ukraine.» The editorial board does not undertake to judge how familiar the MP is with the adopted law on virtual assets.

It is worth noting that the legal Ukrainian cryptocurrency market actually died last month. At least that’s how the founder of the first Ukrainian crypto exchange Kuna, Mikhail Chobanyan, described the state of affairs in the country. In March, banks stopped processing requests to withdraw cryptocurrency into hryvnia and vice versa, citing technical difficulties. As the media found out, the crypto market could have been subjected to repressions related to the government’s fight against gambling.