Verkhovna Rada committee backs bill on virtual assets

On 28 October, the Verkhovna Rada committee on digital transformation backed the bill ‘On Virtual Assets’ in a parliamentary vote.

Following the committee’s review, it recommended that deputies adopt the amended bill as the basis and consider it at the next session of the Verkhovna Rada.

Update: One of the bill’s authors, deputy Aleksei Zhmerenetsky, told ForkLog in a comment that this version of the bill takes into account key comments and proposals from central authorities.

“The status of a virtual asset has been defined as an intangible asset. A term ‘financial virtual asset’ has also been introduced, which falls within the regulatory remit of the National Bank and the Securities Commission,” he said.

The Verkhovna Rada is expected to consider the bill in the first reading at the beginning of November.

“For the second reading, the document will incorporate all possible proposals from central authorities that do not contradict the concept and aim of the bill,” Aleksei Zhmerenetsky added.

The bill ‘On Virtual Assets’ regulates cryptocurrency activity in Ukraine.

In September, the document was updated and registered in the Verkhovna Rada.

For more details on what changed in the text of the bill, read ForkLog’s special feature.

No mining, but with a Bitcoin turnover: what changed in the bill ‘On Virtual Assets’

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