The national Commission on securities and stock market of Ukraine (NSSMC) will introduce the discussion of the financial stability Board the question of the recognition of cryptocurrency as a financial instrument. This was announced by the head of the Commission Timur Limp.
“I consider it very timely to consider at the next meeting of the financial stability Board, the question of recognition of some of cryptogenic as a financial tool to formulate approaches for recognition of activities with them and to start the procedure of the relevant legislative processes,” he wrote.
Limp pointed out the active development of kryptonyte, which began to form certain standards, rules and issues of business.
“The point of no return” in the past, and kriptonyte becomes an integral part of the economic and financial relations. Therefore, the existing recognition of the status, activities and outcomes will require adaptation and legislative recognition of financial regulators,” – said the head of the securities Commission.
Timur Limp proposes to consider scriptactive and operations with them within the existing “old” rules based on principles and fact, not of form (paper, digital, etc.) and to formulate new rules, given the dynamic development of this industry.
“Up to international standards is still far away, so kriptonite and rules will be determined at the level of national legislation”, — he stressed.
We will remind, in November 2017, the consideration of the bill to legalize cryptocurrencies on the territory of Ukraine was postponed due to the fact that the securities Commission insisted on changing the terminology used in the documents.
In addition, financial regulators insisted on there is that under the current Ukrainian legislation cryptocurrencies “unable to accept cash, currency and means of payment of another country’s, currency value, electronic money, securities or cash substitute”.