[2018-01-11] Ukraine Forms Cryptocurrency Oversight Working Group

[cybersofts]

Ukraine Forms Cryptocurrency Oversight Working Group



Senior officials in Ukraine are forming a new working group on cryptocurrency regulation, the country's government announced on Thursday.

During a meeting on cybersecurity and infrastructure matters, National Security and Defense Council chief Oleksandr Turchynov remarked that a lack of regulation around the tech constitutes a threat to Ukraine’s economy and security, according to a statement released by the government on Jan. 11.

Those risks have resulted in the working group's creation, which will be composed of officials from bodies including the National Bank of Ukraine, the Ministry of Finance, the National Securities and Stock Market Commission and the National Police, among others. The group will determine which agencies will have jurisdiction over the domestic crypto market and create a system for collecting income taxes traced to cryptocurrency trades.

The government statement goes on to read:

   "Moreover, the authorities were assigned to develop a mechanism for ensuring access of law enforcement bodies to the data of cryptocurrency exchanges with the obligation of the given subjects to store information about all transactions within the period established by law for financial institutions and disclosure of customer information on a motivated request."

Notably, the statement indicates that the National Bank – Ukraine's central bank – may move to create its own cryptocurrency.

"The National Bank of Ukraine is considering the relevance of establishing its own cryptocurrency," it stated.

A bill already in front of the Ukraine legislature would bring cryptocurrency exchanges under the central bank's oversight, as previously reported.

The proposed legislation contained provisions focused on the taxation and oversight of cryptocurrency exchanges and even included a provision regarding domestic mining operations. However, the legislation has not yet been passed into law, and there is no timeline set for its passage.


Source: https://www.coindesk.com/ukraine-defense-chief-directs-state-to-develop-crypto-legislation/

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[senin]

Earlier, as it was already reported, the profile committee of the Verkhovna Rada of Ukraine introduced a bill on the release of any activity in the crypto currency from taxation and this was a real sensation. Now the news on the creation in Ukraine of a group on the actual regulation of the crypto currency and the drafting of bills on the taxation of this activity puts Ukraine in a row of countries that are not remarkable in this respect, although it does not contain any threat for the circulation of the crypto currency. It will be fully supplied by the kind of control of tax and law enforcement agencies. It's sad. Compared with the news from Belarus, where any activity with cryptoplites is allowed and it is exempt from taxes for the next five years, this is a step backwards.

[igordemin]

Earlier, as it was already reported, the profile committee of the Verkhovna Rada of Ukraine introduced a bill on the release of any activity in the crypto currency from taxation and this was a real sensation. Now the news on the creation in Ukraine of a group on the actual regulation of the crypto currency and the drafting of bills on the taxation of this activity puts Ukraine in a row of countries that are not remarkable in this respect, although it does not contain any threat for the circulation of the crypto currency. It will be fully supplied by the kind of control of tax and law enforcement agencies. It's sad. Compared with the news from Belarus, where any activity with cryptoplites is allowed and it is exempt from taxes for the next five years, this is a step backwards.

But it's still good. it's normal to control the flows and gather taxes.