Ukrainian President Sends Crypto Bill Back to Parliament for Revisions

Rahul Nambiampurath
·1 min read

BeInCrypto –

Ukrainian President Volodymyr Zelensky has sent a cryptocurrency legislative bill back to parliament for further amendments. The changes focus on handing the country’s securities regulator more control over cryptocurrencies.

The President of Ukraine has turned away a cryptocurrency bill that would have recognized cryptocurrencies by law, returning it to the country’s parliament for changes. The announcement from President Volodymyr Zelensky was posted on Oct 5, demanding that the country’s securities commission, National Commission on Securities and Stock Market act as a regulator for the crypto market.

The change requested would make the agency the main regulator for the crypto asset class, as opposed to a more partitioned approach previously that involved multiple regulators overseeing various aspects of regulation. In the previous version, the Ministry of Digital Transformation would have regulated cryptocurrencies, while the securities commission would have focused on assets backed by securities.

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