Ukraine recognized virtual assets as an object of civil law

Ukraine_crypto_law-min (1)
Ukraine_crypto_law-min (1)

On August 10, the Verkhovna Rada of Ukraine in the final reading adopted two bills that define virtual assets and digital content as objects of civil law. It is reported by Interfax-Ukraine.

The documents introduce the concept of “digital things” into the Civil Code. These include, in particular, virtual assets, digital content, online accounts, money and securities that exist exclusively in digital form.

The bills also define the procedure for the circulation of “digital things” and fixes the possibility of applying to them provisions regarding things of the material world.

Recall that in early June, the National Securities and Stock Market Commission presented a bill regulating the taxation of cryptocurrency transactions in the country, and an updated text of the law “On virtual assets” with the implemented norms of the European MiCA regulation. The lawyers pointed out the problems of the tax bill.

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