President of Ukraine Volodymyr Zelensky signed a law on virtual assets, which provides for the legalization of the cryptosphere.
On the website of the Verkhovna Rada, the President signed the law on virtual assets (bill No. 3637) on March 15, 2022.
This law allows Ukrainian and international crypto exchanges (crypto exchangers) to operate legally. Banks will open accounts for legal entities to store digital assets, and individuals, keeping their savings in virtual assets, will be more protected from fraudsters.
The most important norm of the Law is the state guarantee of judicial protection of rights to virtual assets.
The National Securities and Stock Market Commission will:
- formulate and implement a policy in the field of virtual assets;
- determine the procedure for the turnover of virtual assets;
- issue authorizations to VA service providers;
- carry out supervision and financial monitoring of the crypto market.
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