Special Council under Ukrainian Securities Regulators The Association formulates rules for virtual currency taxation in the country. The new agency will also be responsible for regulating various cryptocurrency activities and coordinating applicable laws.
Advisory Committee to Handle Issues Related to Ukraine’s Virtual Currency Taxation
The State Securities and Stock Market Committee of Ukraine (NSSMC) has established an Advisory Committee. Further development of digital asset market regulation in Eastern European countries.
The new commission’s first task will be to prepare revisions to the country’s tax law to reflect details of the taxation of cryptocurrency transactions, Kyiv officials announced earlier in the week. 20} mentioned in presentation.
This change is necessary to implement the Ukrainian law “On Virtual Assets”, which was adopted in September 2021 and signed into law by President Volodymyr Zelensky in March of this year after amendment. The council will also draft respective amendments to the Veterans Act. According to NSSMC, the law will be finalized taking into account the provisions of the European Marketplace for Crypto Assets (MiCA) Framework, his Forklog of the crypto news outlet said in a report.
The Board is expected to “provide quality expertise and professional assessment” and coordinate agency efforts. and activity in the crypto market.
This body is composed of representatives of relevant regulatory bodies, key market experts and other interested participants. “The views of all parties in the process are important and interesting to the Commission, so we are ready for an open and constructive dialogue,” the statement emphasized.
Ukraine has relied on cryptocurrency donations to fund its defense and humanitarian aid amid an ongoing war with Russia. Before the dispute began in late February, the country had already established itself as a regional leader in terms of cryptocurrency adoption.
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