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Lawmakers of Ukraine suggest to discuss the possibilities of regulation of the crypto-currency market



The project was published for discussion by the representatives of the crypto community.



16.May.18 2:06 AM
By Shawn Highstraw
Photo Toinnov.com

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Lawmakers of Ukraine suggest to discuss the possibilities of regulation of the crypto-currency market
As the crypto-currency market is still in the stage of formation, many states have not yet had time to pass laws to regulate it. In most countries, activities are under way to develop appropriate standards. For example, on the territory of Ukraine, a document is presented for discussion, designed to regulate relations related to the circulation of digital currencies.

People's Deputy Alexei Mushak said that the draft law "On the application of technology of the distributed registry of digital transactions and the legal status of tokens and crypto-currency in Ukraine" is aimed at creating a free and transparent market for crypto-currency in the country. First of all, the text provides definitions of key concepts for cryptocity, such as a token, crypto currency, crypto-exchange, and so on.

In accordance with the proposal of lawmakers, the National Commission on Securities and Stock Market of Ukraine should supervise the crypto-currency market. In particular, the agency is invited to approve licensing conditions for the activities of professional participants in this market.

It should be noted that the authors of the document offer licensing activities for the sale and purchase of digital currencies. The same applies to the operation of crypto-exchanges and exchangers.



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