The National Securities and Stock Market Commission spoke about the development of the bitcoin market in Ukraine

nktsbfr main crypto regulator in ukraine-min
nktsbfr main crypto regulator in ukraine-min

Further development of the digital asset industry in Ukraine requires the creation of clear and transparent rules. This was stated by the Chairman NSMSC Ruslan Magomedov.

The head of the department confirmed plans to implement the norms of the European regulation MiCA to the law “On virtual assets”.

“Now the document is at the final stage of approvals, after which we will publish it and wait for the market feedback. Our task is to systematize and generalize the rules, and then it’s up to business,” Magomedov emphasized.

According to Commission member Yuriy Boyko, the ideal formula for regulating the crypto market should represent a balance between the interests of society and the state.

“Excessively rigid “rules of the game” can negatively affect the development of the market for virtual assets and blockchain technologies. On the other hand, we understand that the broad “self-regulation” of the market can cause significant damage to investors whose assets must be protected,” he said.

Earlier, the National Bank of Ukraine once again stated that it does not consider cryptocurrencies a means of payment and advises citizens to take into account the risks when working with this instrument.

Recall that at the first stage, the authorities are considering the possibility of implementing only the basic MiCA norms into the law “On Virtual Assets”.

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