Ukraine’s central bank (NBU) said today that it does not support the current draft law on crypto legalization (No. 10225-d), and wants it revised before the parliament’s final reading.
Its position is firm: aligning with the EU’s MiCA and IMF recommendations is fine, but the current draft lacks key safeguards. The biggest concern is that tokens issued abroad could be used as “electronic money,” bypassing regulation of comparable domestic assets and harming monetary sovereignty and financial stability. The NBU also wants the authority to assess and, when necessary, restrict these tokens.
The rules for trading platforms are also contentious: the NBU had previously discussed competitively selecting three firms, but the final draft leaves the number for the first five years to the securities regulator (NSSMC), raising concerns at the central bank about monopolies and corruption. On taxes, existing assets can benefit from a transitional tax rate of about 5% through the end of 2028, while crypto-to-crypto trades are tax-exempt.
Zelenskyy signed a virtual assets law in 2022, but it has yet to be implemented because the tax legislation remains stalled. According to CoinDesk. Eastern European crypto regulation is once again caught between the central bank and parliament. #乌克兰 #加密监管 #MiCA
Its position is firm: aligning with the EU’s MiCA and IMF recommendations is fine, but the current draft lacks key safeguards. The biggest concern is that tokens issued abroad could be used as “electronic money,” bypassing regulation of comparable domestic assets and harming monetary sovereignty and financial stability. The NBU also wants the authority to assess and, when necessary, restrict these tokens.
The rules for trading platforms are also contentious: the NBU had previously discussed competitively selecting three firms, but the final draft leaves the number for the first five years to the securities regulator (NSSMC), raising concerns at the central bank about monopolies and corruption. On taxes, existing assets can benefit from a transitional tax rate of about 5% through the end of 2028, while crypto-to-crypto trades are tax-exempt.
Zelenskyy signed a virtual assets law in 2022, but it has yet to be implemented because the tax legislation remains stalled. According to CoinDesk. Eastern European crypto regulation is once again caught between the central bank and parliament. #乌克兰 #加密监管 #MiCA
