Commission will become the main regulator of the crypto market: Oleksii Semeniuk expects the new law to take effect in 2027

During a panel discussion at the Incrypted Conference 2026, Commission Chairman Oleksii Semeniuk confirmed that the Commission will become the primary regulator of the crypto market in Ukraine. The division of responsibilities is modeled after the European MiCAR regulations: the National Bank will oversee e-money tokens, while all other virtual assets will fall under the Commission’s jurisdiction.

The draft law, which will establish the legal framework for the virtual assets market, passed its first reading in the Verkhovna Rada back in September 2025. Final adjustments are currently underway ahead of the second reading, and the text is expected to be finalized by August. The Commission Chair expressed his personal expectation that the law will take full effect on 01 January 2027.

The new rules will also make it possible to issue RWA tokens backed by securities on a DLT, so that they can be bought and sold in a modern digital system without unnecessary paperwork red tape or intermediaries. According to Semeniuk, the goal is to create transparent market conditions and protect users from significant risks, while also ensuring a sufficient level of regulation in order to make Ukraine a primary attractive location for businesses involved in virtual assets.

Other participants in the discussion also supported this view. For example, Yaroslav Zheleznyak, First Deputy Chairman of the Parliamentary Committee on Finance, emphasized that the development of digital technologies and the transfer of assets to the blockchain represent an opportunity to modernize the domestic stock market. And Dmytro Nikolaievskyi, a representative of the Ministry of Digital Transformation, noted that various teams have been collaborating on this document for several years now.

A competition for the position of the head of the new sectoral department will be announced within the next two months. The Commission Chair called on the community to join the discussions and work together on the final text of the law.