Vitaly Klychko offers the Ukrainian Parliament and the National Bank to legalize digital currency and fintech

Vitaly Klychko offers the Ukrainian Parliament and the National Bank to legalize digital currency and fintech

The mayor of the Ukrainian capital Vitaly Klychko has sent a draft decision to the Verkhovna Rada and the National Bank of Ukraine (NBU), stipulating the formation of the legislative framework to regulate the cryptocurrency market in the country, according to the Ukrainian News. 84 deputies voted in favor of the draft, while the required minimum is 61 votes.

The document says that fighting against digital currencies is a ‘waste of time’. Therefore, the city council offered to provide a legal status to blockchain, crowdfunding, and other new fintech instruments.

Moreover, Kyiv city administration advised the Verkhovna Rada and the NBU to put the issue of launching a national cryptocurrency on the agenda. Local deputies believe that it would remove the need for loans and external investments.

The NBU, the National Securities and Stock Market Commission, and the National Commission for State Regulation of Financial Services Markets have supported the decision regarding the state regulation of cryptocurrencies in the country.

 

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