The Ministry of Digital Transformation of Ukraine continues to develop a mechanism for legalizing cryptos.
In particular, options for amending the Tax Code are being considered. That will allow the token operations to be removed from the shadows and to charge appropriate fees from them.
The ministry recalled that on July 11 in the Verkhovna Rada a bill was registered on the so-called virtual assets. Not only government experts participated in its development, but also representatives of the local blockchain association.
Trending: Smart Contracts Audits Startup Hexens Closed $4.2 M Seed Funding
The Ministry of Figures has signed a partnership agreement with the Blockchain Ukraine association, which states that the bill on the regulation of relations in the crypto sphere will take into account the interests of all entities.
The authorities have expressed interest in ensuring that the regulatory standards are totally consistent with international norms and comply with legislation in the field of combating the financing of terrorism and money laundering.
The agency also added: "Cooperation with the BAU [blockchain association] will become the main factor in the formation of the cryptocurrency market. That proves once again that the legal framework for the virtual asset market is not imposed by the authorities."