The national Commission on securities and stock market of Ukraine (NSSMC) may be a regulator of the cryptocurrency industry in the country. He stated this on the website.

July 20, the financial stability Board of the Ukraine supported the concept of regulation of cryptocurrency transactions from the head of the securities Commission Timur Khromaev.

According to the document, the securities Commission would take the token “centralized or decentralized unit of account, which is based on mathematical calculations with the use of computer network and cryptographic protection.” Cryptocurrency is defined as a “token that functions as a method of exchange and store of value”.

In the legal field, the concept proposes to consider crypto-currencies and tokens as a kind of financial instruments.

It is also assumed that the securities Commission will regulate the trading of digital assets on the stock exchanges and through cryptogenic, as well as the procedures for initial placement of tokens (ICO).

According to the concept, the Ministry of Finance of Ukraine and the State fiscal service will ensure the process of declaring and paying taxes on income from operations with cryptocurrencies. Financial oversight cryptobinary will implement the scfm.

We will note, now in Ukraine on a legislative level not adopted regulation of the cryptocurrency market. However, on 14 may, the Council of the European Union formally adopted a Directive on combating money laundering, which established the concept of “virtual currency”.

In accordance with the Association Agreement with the EU, Ukraine needs to implement these changes to the legislation until February 2020.