Ukraine is moving closer to establishing a legal framework for its virtual asset market. On August 19, the Verkhovna Rada may hold the first reading of draft law No. 10225-d “On Virtual Assets,” which aims to regulate cryptocurrency circulation in the country. The bill is listed as the fourth item on the parliamentary agenda.
The possibility of its consideration was announced by Yaroslav Zheleznyak, First Deputy Chairman of the Parliamentary Committee on Finance, Tax, and Customs Policy. However, he noted that the “Servant of the People” faction plans to discuss the bill internally at the “Coalition Council,” which could affect the voting schedule.
What the Bill Proposes
Prepared by the Committee for the first reading, the draft law defines the legal status of virtual assets, the rules for their circulation, and the requirements for market participants. If adopted in the first reading, the text will undergo further revision, meaning the final version may differ before the law is passed in full.
Expected Impact
The legalization of cryptocurrencies is intended to:
- stimulate the development of Ukraine’s innovative economic sector;
- attract additional investment;
- ensure transparency and legal protection for virtual asset operations.
Experts believe that adopting the law would send a strong signal to investors and strengthen Ukraine’s competitiveness in the global financial market.
Information from: minfin.