Ukrainian regulator may adopt a law on cryptocurrencies in August

This month, the Verkhovna Rada of Ukraine plans to consider a bill to legalize the cryptocurrency market. This is reported by Incrypted with reference to representatives of the parliament.

It is expected that the adoption of the law will regulate the circulation of cryptocurrencies, set requirements for the activities of market operators, as well as determine state supervisory authorities and basic rules for protecting users' rights. The bill aims to integrate the Ukrainian digital asset market into the European legal framework and prepare it for cooperation with international payment systems.

According to the deputies, the adoption of the law will allow crypto exchanges, wallet providers, and other specialized companies to officially operate, as well as simplify the launch of banking services for the industry. It is expected that after legalization, market participants will be able to open accounts with Ukrainian banks and attract investments without additional barriers.

The document also addresses issues of anti-money laundering, customer identification and taxation. Among other things, the draft law proposes separate regimes for crypto exchanges, custodial services and stablecoins, as well as the creation of a register of virtual asset service providers.

It is expected that the consideration and adoption of the law may give a new impetus to the development of the fintech sector and the digital economy of Ukraine.