The Ukrainian parliament (Supreme Rada) will recognize cryptocurrencies as financial assets through a law that could come into effect later this year or early 2019, and whose draft is currently being prepared.
According to information circulated in a local media, the head of the National Securities Market Commission of Ukraine (NSSMC), Timur Khromaev, said that with the establishment of these regulations will offer residents the opportunity to use new decentralized tools for financial operations.
Khromaev, who believes that transactions with cryptoactives within the Asian country need more precise control, added that the adoption of this law will allow to establish favorable conditions for the formation of a legal market in Ukraine and advanced that digital assets will not be considered as a Legal currency .
The head of the NSSMC said that this concept is the one who handled the Swiss, Maltese and Gibraltar authorities, countries whose regulations are seen as friendly to criptactivos, and adhere to the same definition of "financial asset" according to Khromaev.
In this way, Ukraine takes steps forward in a process that started last July, when the Financial Stability Board approved to work together with all state entities, and the Supreme Rada, in order to create a legal framework that would legalize the sector.
On this, Khromaev posted on Facebook that both cryptocurrencies and the role and functions of government in the regulation of these new tools and their negotiation mechanisms in the market were being recognized , including the possibility of being subject to the collection of taxes .
In this regard, the importance of these new regulations in that country is highlighted, indicating that, according to statistics, 13% of Ukrainian residents have become owners of bitcoins or altcoins ., While the total amount of daily circulation of the cryptocurrency amounts to $ 2 million .
In spite of having a market in clear growth, where even the National Bank of Ukraine announced in 2016 a project to issue its own cryptocurrency, the country lacked a legal framework that regulated the sector.
But in recent months the issue has become a concern for the government, especially with regard to security. Hence the creation , last January, of a committee that evaluated the situation of cryptoactives and was responsible for preparing a registry of all market operators, including those who practice small and large-scale mining.