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The National Bank of Ukraine proposes to create a unified regulations for Cryptocurrencies and Fiat

The National Bank of Ukraine proposes to create a unified regulations for Cryptocurrencies and Fiat

Furthermore, the official notes that in most countries operations with crypto-assets are in "a gray zone", that might lead to a new wave of regulatory arbitrage in comparison with usual market mechanisms.
"Therefore for operations with digital and standard financial instruments, should be promoted identical rules of their taxation and financial monitoring in order to prevent abuse on the market ,protect the rights of investors and consumers " — Evgeny Stepanyuk has said.
Also he emphasized that regulation of crypto-assets might be ineffective unless they would occur locally in one country (though transactions are anonymous). Which means that regulators of the cryptocurrency market have to cooperate on the global market.
Note that as early as August 2017 the acting Head of the National Bank of Ukraine Yakov Smoly said that the Bitcoin doesn’t belong to currencies and "monetary surrogates ". In turn, the mayor of Kiev Vitali Klitschko in November, 2017 has given to the NBU the project the decision of city council on creation of standard and legal base for adjustment of the cryptocurrency market in Ukraine.


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