Ukraine and Germany Forge Partnership for Cryptocurrency Oversight

NSSMC and BaFin have signed a memorandum to provide mutual assistance in financial sector investigations and exchange relevant information.

The priority areas include:

• financial reporting requirements;
• alternative funds;
• non-state pension funds;
• fraud prevention;
• oversight of virtual assets;
• construction financing and investment funds in the construction sector.

The National Commission described this partnership as “another step towards the development of the Ukrainian capital market.”

Earlier, the NSSMC, in collaboration with the National Bank, has been developing an updated version of legislation for regulating the cryptocurrency market in Ukraine.

The International Monetary Fund has postponed the preparation of this document to the end of 2024.

The development of cryptocurrency market regulation is part of Ukraine’s National Revenue Strategy for 2024-2030 and included in the €50 billion reform plan.