Work is underway in Ukraine to update the legal act that applies to cryptocurrencies in order to align the nation’s legislation with European standards. Several government institutions in Kyiv are preparing changes to the bill “On Virtual Assets,” which was signed into law earlier this year.
Ukraine to Transpose European Crypto Regulations Into National Law
Ukraine’s law “On Virtual Assets,” the main piece of legislation that concerns the country’s crypto space, will be amended in accordance with the provisions of the European Union’s Markets in Crypto Assets (MiCA) legislative package.
Since the East European nation was granted the status of a candidate for EU membership, Ukraine needs to adapt its national legislation to European standards, the country’s Ministry of Digital Transformation explained, quoted by the crypto news outlet Forklog.
The law was first adopted by the Ukrainian parliament a year ago, but President Volodymyr Zelenskyy returned it with some recommendations. The...
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