Ukraine To Legalize Cryptocurrencies, Invites Citizens To Comment On Proposed Regulations

Ukraine is preparing draft legislation to legalize cryptocurrencies, according to a post by a member of the Ukrainian parliament, Alexei Mushak, on his Facebook page Tuesday, May 15.

Mushak attached a copy of the draft legislation document, urging readers to comment on the terms of the regulations proposed for the crypto market:

“We go to the home stretch to create conditions for digital tokens and cryptocurrency in Ukraine. This is the outcome of many meetings and work of many people. There are many more nuances left to figure out. The final version will be ready in two weeks. I ask you to comment and edit. The thoughts of market practitioners are especially important.”

The document notes that the legislation aims to create a “free and transparent” digital asset market in Ukraine, outlining rules for storing, using, and exchanging cryptocurrencies, digital tokens, and smart contracts at a state, entity, and individual level. It proposes regulatory measures for preventing the use of crypto for money laundering, terrorist financing, and other criminal activities.

The document also advocates the use of digital ledger technology (DLT) – also known as blockchain – in the public sphere, singling out public relations, healthcare, and education as areas of particular interest…

Read Full: Ukraine To Legalize Cryptocurrencies, Invites Citizens To Comment On Proposed Regulations