🔹️The People's Deputy of Ukraine announced the preparation of a new bill on cryptocurrencies
🔹️Within six months, new versions of the law “On Virtual Assets” and the bill on taxation of cryptocurrency transactions will appear in Ukraine. This was stated by the People's Deputy of the Verkhovna Rada of Ukraine, Chairman of the Blockchain4Ukraine MFO Alexey Zhmerenetsky as part of the Binance Super Meetup in Lviv.
🔹️The People's Deputy said that the current regulations presented by the National Securities and Stock Market Commission and the Ministry of Digital Development differ greatly. In particular, he mentioned different tax rates, as well as the different scale of implementation of MiCA regulations .
🔸️“Ukraine is not yet a member of the EU, and the regulation provided for in MiCA is more complex. In the current conditions, when Ukraine does not have a large crypto market and capital on it, the implementation of strict requirements will make our country less competitive,” Zhmerenetsky explained.
🔹️For this purpose, the working group plans to prepare a certain average version of legislative regulation in order to reach a compromise between the proposals of the National Securities and Stock Market Commission and the Ministry of Digital Development. It will also take into account the wishes of the FATF and the European Commission.
🔸️“In an optimistic scenario, the text will be ready by the end of spring, and then in a month and a half it will be possible to accept all this,” Zhmerenetsky added.
Earlier, the Ministry of Digital Development called the MiCA norms “excessively burdensome” for the Bitcoin market in Ukraine and allowed their partial adoption at the first stage.
🔹️Let us remind you that the entry into force of the law “On Virtual Assets” adopted in 2021 has been postponed until the adoption of taxation of transactions with digital assets. In addition, the text of the regulatory act itself has been updated taking into account the norms of the European MiCA regulation. The new version was submitted to the Verkhovna Rada of Ukraine on November 7.
🔹️Together with her, the National Securities and Stock Market Commission presented a tax bill proposing a rate of 18%, which was condemned by social activists.
🔹️In turn, the Ministry of Digital Development presented a draft alternative law, which involves a gradual increase in the rate for individuals and exemption of legal entities from VAT, with the exception of transactions with tokenized assets.
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