Breaking News

Ukraine announces "full regulation" of the cryptocurrencies sector and plans to issue national cryptocurrencies

The Ukrainian authorities have set up a working group of major government regulators, governments and central banks to "fully regulate" the area of ​​cryptocurrencies.
Yesterday Ukraine's Security Council issued a statement announcing Ukraine's long discussion on the emergence of cryptocurrencies at a conference centered on national security and defense issues. Attendees, including Oleksandr Turchynov, secretary of the National Security and Defense Commission, in particular "considered the uncontrolled circulation of cryptocurrencies in Ukraine a complex issue."

Turchynov strongly notes that the lack of regulation of the use of cryptocurrencies "poses a threat to the economy and security of the country," he said:

"Given the rapid growth of cryptocurrencies in the world, this issue can not but draw the attention of the nation."

To this end, senior Ukrainian officials are setting up a working group of market regulators, financial authorities and regulatory agencies to make legally compatible proposals to regulate cryptocurrencies and to oversee more closely the cryptocurrency market by using "passwords Technology "to monitor the transaction and identify the participants in the crypto currency transaction. In addition, the working group is also studying the taxation on revenue earned in cryptocurrencies.

The statement went on to say that "In addition, the authorities are being assigned a mechanism to ensure that law enforcement agencies have access to data on crypto-currency exchanges, stipulate the obligation of an established body to store all transactional information and, to the extent required by law, Disclosure of user information. "

The working group will be composed of representatives from the National Bank of Ukraine, the Ministry of Finance of Ukraine, the National Security and Stock Market Commission of Ukraine, the National Securities and Securities Market Commission, the National Police of Ukraine, the National Financial Supervisory Authority of Ukraine, the State Financial Services of Ukraine and Ukraine's Special Communications and Information Protection Representatives of national service agencies.

This statement said:

"The development and implementation of all these measures will also include the promotion of international cooperation to establish universal supervision of the flow of cryptocurrencies and to refrain from criminalizing the area."

Curiously, the statement also hinted at developing a national cryptocurrency.

Statement wrote:

National Bank of Ukraine is considering creating its own cryptocurrency.

According to a notice released by the Central Bank of Ukraine in mid-2017, the central bank has confirmed its intention to establish a clear regulatory regulatory framework for cryptocurrencies in the country that will "form a common position on the legal status of Bitcoin and its regulation, "