Ukraine to Develop a Cryptocurrency Bill
Ukraine’s parliamentary committee on financial policy and banking has started developing a bill that would regulate cryptocurrency turnover.
The committee’s head Sergei Rybalka wrote on Facebook:
“We started working on a cryptocurrency bill in our parliamentary committee. They are gaining traction all over the world.”
Notably, deputy head of Ukraine’s National Bank Oleg Churiy recently said that the regulator does not consider bitcoin and other cryptocurrencies a currency.
Nevertheless, Sergei Rybalka insists that cryptocurrency regulation is required for both development of financial technologies and investment attraction. Mr. Rybalka also noted that cryptocurrencies have no real value aside from speculative demand.
“Our experience with failed banks and Ponzi schemes obliges us to think of protecting consumer interests. There is a danger of mass deception. The committee meeting was attended by representatives for the National Bank, the ministry of finance, cryptocurrency market players, and experts. We’re gathering opinions and proposals to write the bill,” Mr. Rybalka wrote.
Back in September, Ukrainian parliament member Alexei Mushak stated that bitcoin’s legal status may be determined in three weeks’ time.
- Ukraine’s Financial Regulators Support Introduction of Regulatory Framework for Cryptocurrencies
- Russia’s Stance Towards Cryptocurrencies Remains Ambiguous
- Ukraine’s Finance Minister Says Cryptocurrencies Will Not Be Banned
- Ukrainian Parliament to Review a Bill Recognizing Cryptocurrencies a Financial Asset
- Ukraine Presents Cryptocurrency Regulation Bill
- Russia’s Putin Says It’s Important not to Pile up Too Many Barriers in Cryptocurrency Regulation
- Russia’s Central Bank to Create Its Own Cryptocurrency Instead of Legalizing Bitcoin
- National Bank of Ukraine Will Not Consider Bitcoin a Currency