The Ukrainian authorities have formed a working group composed of the main observers of the government, the authorities and the central bank to introduce a "complete regulation" of the cryptocurrency sector.
A statement issued yesterday by the Security Council of Ukraine reveals a prolonged discussion on the advent of cryptocurrencies in Ukraine at a meeting focused on issues related to security and defense of the state. Participants in the meeting, which included the secretary of the National Security and Defense Council, Oleksandr Turchynov, specifically "considered a set of problems related to the uncontrolled circulation of cryptocurrencies" in Ukraine.
Asserting that a lack of surveillance in the use of cryptocurrencies "poses a threat to the economy and the security of the state," Turchynov said:
"Given the rapid development of cryptocurrencies around the world, this issue can not be ignored by the state. "
Following this, senior Ukrainian officials set up a working group of market regulators, financial authority and "watchdogs" of finance to develop legally compatible proposals to regulate cryptocurrencies, monitor take a closer look at the cryptocurrency market and identify cryptocurrency users. In addition, the group will also work by taxing investors who earn income from cryptocurrencies.
"In addition," the statement continues, "the authorities were tasked with putting in place a mechanism to ensure law enforcement access to cryptocurrency data with the requirement for subjects to store all timely transactions by financial institutions and the disclosure of their clients' information upon request. "
The working group will specifically include representatives of the National Bank of Ukraine, the Ministry of Finance of Ukraine, the National Commission of Values and Markets of Ukraine, the SSU, the National Police of Ukraine, of the Tax Service of Ukraine and the State Service for Special Communications and Information Protection in Ukraine.
Has also been declared:
"The development and implementation of all these measures will also include the strengthening of international cooperation to establish global regulation of the circulation of cryptocurrencies and prevent the criminalization of this segment. "
Curiously, the statement also alluded to the development of a state-owned cryptocurrency.
We could learn that:
"The National Bank of Ukraine is planning to build its own cryptocurrency. "
The Ukrainian central bank has already confirmed its intention to establish a definitive regulatory framework for cryptocurrency in the country, an initiative that "would develop a common position on the legal status of Bitcoin and its regulation," according to a statement from the central bank.
