Ukraine designates virtual assets as civil-law objects

On 10 August, the Verkhovna Rada of Ukraine, in its final reading, adopted two draft laws that define virtual assets and digital content as objects of civil law. This was reported by Interfax-Ukraine.

The documents introduce into the Civil Code the concept of “digital things.” These include virtual assets, digital content, online accounts, money and securities that exist exclusively in digital form.

The bills also define the procedure for handling “digital things” and enshrine the possibility of extending the provisions relating to things in the material world to them.

Earlier in June, НКЦБФР presented a bill regulating the taxation of cryptocurrency operations in the country, and the updated text of the law “On Virtual Assets” with the MiCA provisions implemented. Lawyers pointed to problems with the tax bill.