(Verkhovna Rada) Ukraine parliament has adopted in its second reading a draft on regulations governing cryptocurrencies in the country.
The law, which received support from 276 deputies, will come into effect once the amendments to the tax code on the taxation of VA transactions is adopted.
The proposed draft recognizes virtual assets as intangible goods and are categorized as either secured or unsecured.
The draft does not recognize Virtual Assets as a means of exchange for goods and services.
Consumers can obtain the right to judicial protection and operate a bank account to settle all transactions involving Virtual Assets.
Consumers should independently ascertain the value of VA transactions. All the transactions must follow anti-money laundering and anti-terrorist financing laws.
Virtual Assets issued by a resident of Ukraine can be backed by currency value regulated by the National bank or securities under the National Commission on Securities and Stock Markets.
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