10/07/2023
The regulation of virtual assets is being harmonized with EU law
The National Securities and Stock Market Commission has presented a draft law, which relates to amending the Tax Code of Ukraine and other legislative acts of Ukraine with the aim of regulating the circulation of virtual assets in the country.
The draft includes the following:
- Amendments to the Tax Code of Ukraine;
- A new edition of the Law of Ukraine "On Virtual Assets";
- Amendments to other legislative acts.
The main purpose of the document is to establish a legal mechanism for regulating virtual assets, defining the scope of legal obligations for market participants that they must adhere to, developing a taxation concept, and ensuring the protection of investors' rights against fraud and other illegal actions in the market.
In the development of the draft, the EU MiCA (Markets in Crypto assets) Regulation was used, which will be implemented in Ukraine.
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