September 27, 2022

Zelensky signed the law On virtual assets

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President of Ukraine Volodymyr Zelensky signed the law “On virtual assets” (VA), which regulates the circulation of cryptocurrencies in the country.

Thanks to the document, bitcoin exchanges will be able to legally operate in Ukraine, and banks will be able to open accounts for cryptocurrency companies.

Owners of digital currency are guaranteed judicial protection of their rights.

Market regulation is distributed between the NBU and the National Commission for Securities and Stock Market (NKTSBFR). The National Bank is responsible for VA secured by currency values. The regulation of the circulation of cryptocurrencies and VA, secured by securities or a derivative financial instrument, is assigned to the National Securities and Stock Market.

The Law “On Virtual Assets” will come into force after the adoption of amendments to the Tax Code. They will separately prescribe the features of the taxation of cryptocurrencies.

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