NSSMC and UCIF signed a Memorandum of Cooperation in virtual assets

The National Securities and Stock Market Commission and UCIF are strengthening their cooperation in the areas of combating illicit finance and regulating the virtual asset market.

Oleksii Semeniuk, Chairman of the National Securities and Stock Market Commission, and Serhii Rokun, Project Lead in Ukraine, signed a Memorandum of Cooperation on the provision of international technical assistance.

The purpose of the Memorandum is to help Ukraine more effectively combat illicit financial transactions, particularly in the virtual asset market.

The sides will work on developing regulations for the virtual asset market, training specialists, and exchanging international best practices. The project will also assist the NSSMC with financial monitoring and oversight of virtual asset service providers (VASPs).

“It is important to us that this collaboration be as practical as possible and help us develop concrete solutions. Ukraine still lacks expertise in the field of virtual assets, so it is important for the NSSMC to strengthen professional capacity and build trust in the market,” said Oleksii Semeniuk, NSSMC Chairman.

The implementation of the Memorandum is expected to strengthen the NSSMC’s oversight and financial monitoring efforts, as well as reduce the risks of money laundering and the financing of illegal activities.

For reference:

The “Ukraine Illicit Finance Capacity Development” (UCIF) project is an international technical assistance project implemented by DAI Global (UK) Limited with support from the UK Foreign, Commonwealth and Development Office (FCDO). The project helps Ukraine strengthen its system for combating illicit finance, particularly in the area of virtual assets.