#MarketDownturn #btc #eth #xrp #BNB
The cryptocurrency market in Ukraine is actively developing, and in order to protect the interests of citizens and the economy, the government has created a regulatory framework aimed at regulating the circulation of digital assets. The main bodies dealing with this issue are the National Bank of Ukraine (NBU), the National Commission for Securities and the Stock Market (NCSCFR) and the State Financial Monitoring Service of Ukraine.
1. The National Bank of Ukraine (NBU) – controls the stability of the national currency, regulates financial markets and determines the legal aspects of cryptocurrency circulation as an asset used in the country. The NBU supports the development of blockchain technologies and is piloting its own electronic hryvnia (CBDC), however, with restrictions on the use of cryptocurrencies in the field of financial services.
2. The National Securities and Stock Market Commission (NCSCFR) – this body is responsible for the control over investment and financial operations with crypto-assets. In the event that cryptocurrencies will be considered as financial instruments, the NCCPFR will regulate crypto-asset exchange activities, as well as the licensing of companies that provide storage and exchange services for digital assets.
3. The State Financial Monitoring Service of Ukraine – ensures compliance with financial monitoring requirements to prevent money laundering and terrorist financing during the exchange of cryptocurrencies. Business entities providing crypto-asset exchange services are required to identify clients and report to financial monitoring.
With the adoption of the Law "On Virtual Assets", Ukraine became one of the first countries to introduce comprehensive regulation of the cryptocurrency market. This law clearly defines the legal status of virtual assets and lays the foundations for their integration into the financial system.
