Parliament of Ukraine Will Have to Finalize the Bill on Virtual Assets

President of Ukraine Volodymyr Zelensky sent the draft law “On virtual assets”, approved by parliament on September 8, for revision, proposing a number of improvements.

According to a statement from the presidential administration, the reason for the return of the bill for revision was the high cost of creating a new regulatory body to oversee digital assets.

According to the bill, the regulation of the virtual assets market should be carried out by various government bodies depending on the type of such assets, in particular, by creating a new executive body. But the creation of such a body will require significant expenditures from the state budget.

Rather than creating a separate executive agency to deal with digital assets, the president proposed placing them under the jurisdiction of the current National Securities and Stock Market Commission.

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