Ukraine’s security watchdog set to draft Crypto Taxation Regulations

The National Securities and Stock Market Commission of Ukraine (NSSMC) has set up an advisory council that will be trusted with the further expansion of the regulations for the digital asset market in the Eastern European country.


The new board’s first assignment will be to draft amendments to the country’s Tax Code reflecting the specifics of taxing cryptocurrency transactions, the management in Kyiv said in a statement issued before the weekend.

The changes are vital in order to implement Ukraine’s law On Virtual Assets, which was adopted in September 2021 and signed after modifications by President Volodymyr Zelenskyy back in March, this year. The council will prepare the respective amendments to the VA law, too. According to reports from crypto news media Forkog, the NSSMC believes that the law will be finished taking into account the provisions of the European Markets in Crypto Assets (MiCA) framework.

The board is anticipated to provide quality expertise and professional evaluation, and will also coordinate actions of government institutions in finding solutions for other issues with respect to the regulation of activities in the crypto market.

The body will incorporate representatives of appropriate regulatory bodies, leading market experts, and other interested parties. The opinion of all parties to the procedure is important and impressive for the Commission, so it is ready for an open and constructive dialogue, the statement highlighted.

Also read: Ukraine’s Deputy Digital Minister shuts down FTX-Democrats Narrative…

Amid a continuous war with Russia, Ukraine has been counting on crypto donations to fund its defense and humanitarian actions. Before the battle started in late February, the country had already affirmed itself as a regional leader in terms of crypto adoption.

NFTs or NFT trading. All the strategies are merely educational references.

Conduct thorough research before you start with NFTs

Share This Post

Related Posts

Meta to support NFT Integration in 100 Countries

On Thursday, the Mark Zuckerberg-led company Meta initiated its...

CFTC may soon be in charge of regulations of the Crypto Market

The US Commodity Futures Trading Commission (CFTC) is constantly...

Sephora hosted the Sephoria event in Metaverse

Harbored in a virtual format for the second year...

Binance.US reveals 6% APY on Ethereum Staking

Ethereum is now available for staking on Binance.US, offering...

Bella Hadid is Basing an NFT Community For Her Fans

Bella Hadid's NFTs CY-B3LLA A new NFT collection named "CY-B3LLA"...

FIFA reveals Web3 and Blockchain-based games

Following the termination of its partnership with EA, FIFA has informed that...