Cryptocurrency regulation as it sees the EU: Ukrainian government discusses the news with experts

Cryptocurrency regulation as it sees the EU: Ukrainian government discusses the news with experts

On May 14, the EU approved the Anti-Money Laundering Directive (2015/849). The document touches upon cryptocurrency and gives its definition. Under the terms of the Ukraine–European Union Association Agreement being in force since 2014, Ukraine is also to approve this directive. Oleksiy Honcharuk, Head at the Better Regulation Delivery Office (an independent expert center initiated by the Russian Ministry of Economic Development) commented on the news on his Facebook page.

Cryptocurrency regulation as it sees the EU: Ukrainian government discusses the news with experts 1

Oleksiy Honcharuk also informed about the meeting of BRDO representatives and high officials held on May 24 and aimed at the discussion of a new directive. Head of the Parliamentary Committee for Informatization and Communications Oleksandr Danchenko, a representative of the Ukrainian National Securities and Stock Market Commission, People’s Deputies and lawyers were present. Apart from the new EU directive, Green book issued by the BRDO also appeared in the center of discussions. The document clarifies a current state of digital assets in Ukraine and the situation with VAT imposed on EU-based cryptocurrency transactions.

According to the results of the meeting, the BRDO will present its recommendations concerning cryptocurrencies to the Cabinet of Ministers of Ukraine.

Ukraine is currently listed among the first ten countries by the number of cryptocurrency owners. Besides, it hosts two large crypto exchanges (KUNA and BTC TRADE UA). An international exchange EXMO accepts hryvnias. Every day, digital assets estimated at up to $1.9 m are sold and bought on three Ukrainian top exchanges alone. Currently, a cryptocurrency regulation bill to be introduced in Ukraine is being discussed.

In media and on his personal pages, Oleksiy Honcharuk has always emphasized that he welcomes cryptocurrency state regulation. In his latest publication, the expert pointed out: “Restraining from rules establishment on the market is the county’s worst step.”

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