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23.07.2018

At the regular meeting on July 20, 2018 the Financial Stability Council discussed and supported the draft concept of state regulation of cryptocurrency transactions, presented by Timur Khromaev, the Chairman of the National Securities and Stock Market Commission of Ukraine (NSSMC).

Timur Khromaev noted: "This concept defines certain categories of cryptocurrencies and tokens as financial instruments, role and functions of state bodies (NBU, NSSMC, Ministry of Finance, Tax Service, State Financial Monitoring Service) as regulators, licensing, disclosure procedures, etc."

The Chairman of the NSSMC added: "This is the first step for a consensus among the state bodies, financial regulators, which confirms readiness to work with the Verkhovna Rada of Ukraine and cryptocurrency market participants to create legislation that will ensure transparency and quality of relations in cryptocurrency market."

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