The Advisory Council on the Regulation of Virtual Assets has started drafting changes to the relevant law

The Advisory Council on the Regulation of Virtual Assets, established by the National Securities and Stock Market Commission, has started discussing and working on the legislative changes necessary for the launch of the crypto-assets market in Ukraine. The first draft of the draft law is planned to be prepared by the end of January 2023.
Currently, the council’s experts are considering the European MiCA regulation, the principles of which should be the basis of the draft law and accordingly implemented in the national regulatory field.
In particular, during the current week, the discussion and collection of proposals and comments regarding licensing and conditions of activity of service providers (Chapter II of the MiCA regulation) will continue. In addition, the issue of virtual assets that are not asset-linked tokens and e-money tokens will be proposed for consideration in the near future (Chapter III of the MiCA Regulation).
The NSSMC expects an active discussion and comprehensive feedback from the board members. The expertise provided by them will contribute to the effective implementation of the virtual asset market.
We would like to remind you that the main task of the Advisory Council is to develop and agree on a draft law on amendments to the Tax Code of Ukraine regarding the specifics of taxation of transactions with virtual assets and amendments to the Law of Ukraine on Virtual Assets, as well as agreement on other issues related to the regulatory regulation of activity on the virtual assets market.