Ukrainian Crypto Bills are Making Legal!

Ukrainian parliament member Alexei Mushak On the occasion of his issue on Facebook on Tuesday May 15 Ukraine is preparing legislation to legalize cryptographic money

Mushak shared a copy of the draft law and asked readers to comment on the arrangements presented for the crypto market:

"We came to the last level in setting the conditions for cryptographic currency units in Ukraine and digital tokens . This is the final version of many meetings and hundreds of people. But there are still a lot of fine details that still need to be resolved. The final version of the sketch will be ready in two weeks. I ask you to comment and make an opinion.

The relevant paper stipulates that the aim is to create a "free and transparent" cryptographic money market in Ukraine, and that it is used for storage, use, crypto money exchange, digital tokens, and both individual and institutional also underlines the use of intelligent contracts at the state level.

Not only in the design of the law not related to crypto money, but also also known as blockchain In addition to these, the draft also mentions regulatory measures that will prevent the use of crypto money for money laundering, terrorist financing and other similar actions. ] digital wallet technology (DLT: Digital Ledger Technology). The bill also supports Blockchain's use of specific areas of interest such as public relations, health care, education, etc.

After the proposal was shared on Facebook, Ukrainian users were caught up in an intensive commentary. One of these interpretations is that the "large-scale fraud" element, which stipulates that the First Digital Money Offerings (ICOs) should be separated from other cryptographic currencies and spread to the market because of the ICOs, is in the opinion of the confidence in the whole crypto world.

In May, the National Security and Exchange Commission (SSMCS) of Ukraine reported that the Parliament gave the answer that there is a very low-level consensus on how ICOs should be treated and that excessive rigid measures could prevent development. gave the signals that they could see crypto currencies as a financial product, regulations about cryptography had to be decided at national level, and "international standards" were still "far away"

In January, the National Bank of Ukraine (NBU) stated that the national nominal currency 'thought' the hryvnia to remove the digital version which is not based on blockchain and without state support.