{"id":1184702,"date":"2026-10-07T14:03:10","date_gmt":"2026-10-07T11:03:10","guid":{"rendered":"https:\/\/www.nssmc.gov.ua\/?p=1184702"},"modified":"2026-10-07T14:09:33","modified_gmt":"2026-10-07T11:09:33","slug":"ua-nktspfr-ta-fii-pohlybliuiut-spivpratsiu-u-sferi-tsyfrovykh-aktyviv-i-finansovykh-innovatsii-en-nssmc-and-fii-deepen-cooperation-in-digital-assets-and-financial-innovation","status":"publish","type":"post","link":"https:\/\/www.nssmc.gov.ua\/en\/ua-nktspfr-ta-fii-pohlybliuiut-spivpratsiu-u-sferi-tsyfrovykh-aktyviv-i-finansovykh-innovatsii-en-nssmc-and-fii-deepen-cooperation-in-digital-assets-and-financial-innovation\/","title":{"rendered":"NSSMC and Fii deepen cooperation in digital assets and financial innovation"},"content":{"rendered":"

The National Securities and Stock Market Commission and the international organisation Financial Innovation for Impact (Fii) have signed a Memorandum of Understanding and Cooperation. The document sets out the framework for further cooperation under the multi-year Accelerating Regulatory & Financial Innovation in Ukraine (ARFIU) programme.<\/p>\n

ARFIU is delivered by Fii in partnership with the Cambridge Centre for Alternative Finance (CCAF) and works with Ukrainian financial authorities to strengthen regulatory and supervisory capacity, develop institutional expertise and support the practical implementation of new regulatory approaches. The programme started in 2025 and will run until 2029. It is co-funded by the Swiss State Secretariat for Economic Affairs (SECO) and the UK Foreign, Commonwealth & Development Office (FCDO).<\/p>\n

For the Commission, one of the key areas of cooperation is the development of regulation and supervision in the digital assets sector. This goes beyond training and international knowledge exchange and includes practical technical support \u2014 from developing regulatory approaches to licensing, authorisation, supervision and market monitoring.<\/p>\n

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From training to practical implementation<\/strong><\/p>\n

The cooperation is gradually moving from building knowledge and a shared understanding of international approaches towards practical work on the future regulatory framework.<\/p>\n

Under the Memorandum, Fii can provide the Commission with expert and technical assistance, review draft legislation and regulatory documents, prepare research, methodological materials, recommendations and comparative reviews, and organise technical consultations, workshops, training programmes and exchanges with international regulators.<\/p>\n

A separate area of work is support for the development and implementation of the regulatory framework for digital assets, including secondary regulation, licensing and supervisory approaches, regulatory reporting, market monitoring, as well as work on specific categories of digital assets, including stablecoins and tokenised forms of money.<\/p>\n

\u201cThis cooperation is particularly important for us now, as we are reaching the final stage of work on draft law No. 10225-d on virtual assets. We expect Parliament to adopt it, after which we will have between six and nine months to prepare both the market and the regulator for full implementation. This is exactly the stage where we need deep expertise, technical assistance and practical experience from other jurisdictions,\u201d<\/em> said Oleksii Semeniuk, Chair of the NSSMC.<\/strong><\/p>\n

He also noted that Ukraine ranks sixth globally in terms of digital asset adoption, with around 16% of citizens using digital assets. Creating a transparent regulatory framework should make the market clearer and safer for both market participants and consumers.<\/p>\n

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Building institutional capacity<\/strong><\/p>\n

An important part of the cooperation is developing the Commission\u2019s internal expertise.<\/p>\n

The Memorandum provides for professional training, technical workshops, practical projects, peer-to-peer exchanges with international regulators and mechanisms for transferring knowledge within the NSSMC. These formats include the Cambridge Digital Assets for Regulators (CDAR) programme, capstone projects and Training of Trainers.<\/p>\n

As Nick Clark, Director of Technical Assistance at Fii<\/strong>, notes: \u201cOur focus is on building capability that the Commission can use in its day-to-day regulatory and supervisory work. That ranges from developing approaches and reviewing regulatory frameworks to strengthening licensing and supervision, and ensuring that knowledge is shared and retained within the institution.\u201d<\/p>\n

The wider ARFIU programme<\/strong><\/p>\n

The cooperation with the NSSMC on digital assets is part of the wider ARFIU programme. The programme works with Ukrainian financial authorities across several interconnected areas: digital assets, crowdfunding, SupTech, artificial intelligence, governance, internal audit, regulatory capacity and institutional development.<\/p>\n

ARFIU is designed so that individual activities do not remain standalone training or analytical products. Research and diagnostics build the evidence base, training and workshops help develop the necessary knowledge, and the next stage is practical technical assistance and implementation support tailored to the priorities of each regulator.<\/p>\n

As Hunter Sims, Co-Founder & Executive Director of Fii<\/strong>, notes: \u201cARFIU gives us a long-term framework to work with Ukraine\u2019s financial authorities, from building an evidence base on which to inform strategies and decision making, through to technical capacity building, and then to adoption and implementation. The programme is structured to respond to regulatory priorities while supporting stronger regulatory institutions, responsible financial innovation and closer alignment with European and international approaches. We are grateful to our colleagues at the NSSMC for their partnership and engagement in this important work.\u201d<\/p>\n

For the NSSMC, this means that alongside the digital-assets workstream, the wider programme already includes or plans work on crowdfunding, SupTech, AI, governance and internal audit. These are separate components of ARFIU and are not covered by the Memorandum on digital assets.<\/p>\n

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European and international approaches<\/strong><\/p>\n

A separate focus of the cooperation is the use of international experience and the alignment of Ukrainian regulation with EU approaches.<\/p>\n

The Memorandum explicitly provides for consideration of international standards, the European regulatory environment and the specific features of the Ukrainian market. It also provides for exchanges with regulators from the European Union and other jurisdictions.<\/p>\n

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Background<\/strong><\/p>\n

Accelerating Regulatory & Financial Innovation in Ukraine is a multi-year technical assistance and institutional development programme for Ukrainian financial authorities, running from 2025 to 2029. The programme is delivered by Financial Innovation for Impact in partnership with the Cambridge Centre for Alternative Finance, with support from SECO and FCDO.<\/p>\n

Fii works with financial regulators and other public authorities on technical assistance, financial innovation and institutional development. Through ARFIU, Fii combines international regulatory expertise, research, training and practical technical assistance to support Ukrainian financial authorities.<\/p>\n

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\"\"<\/p>","protected":false},"excerpt":{"rendered":"

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