Ukraine: Virtual Asset Law

 The draft "On virtual assets" was registered on Thursday, June 11, in the Parliament of Ukraine

What does it provide?

With its help, the state will begin to regulate digital assets, as well as oblige exchangers to register with the Ministry of Digital Transformation of Ukraine.

Small changes

The deputies made some adjustments to the final version of the document. For example, the conceptual system has lost such terms as “exchange”, “token” and “stablecoin”.

Besides, the deputies decided to abandon, perhaps, the most controversial aspect related to the actual location of cryptocurrencies.

What is the deadline?

Recall that the first draft of this law was registered on May 18 this year. If more than 226 deputies vote for it, it will enter into force three months after its publication. Important to note is that the first year will be transitional, and the state will not fine for violation of this law during this period.

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