The Ministry of economic development of Ukraine has developed a plan to legalize crypto-currencies

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The Ministry of economic development and trade of Ukraine initiates the adoption of the concept of state policy towards cryptocurrency. About it reports a press-Department service.

According to the plan concept, in 2018-2019 there is a definition of the legal status of cryptocurrencies, trading platforms and exchange dealing with digital assets. At the same time, the government should analyse the problems and market trends, as well as to work out proposals for regulating the industry.

As stated in the document of the Ministry, in 2020-2021 years providers cryptocell needs to obtain the status of “entities of initial financial monitoring”. At this stage the elaboration of draft laws, regulating the use of tokens, smart contracts, holding of ICO.

The Ministry are confident that thanks to implementation of the concept of market participants will have the opportunity to use banking services, officially to attract foreign investment and carry out ICO. Due to the legal uncertainty kriptonyte the country is developing in the shadows, companies are faced with legal challenges, said the Agency.

“The government will be able to increase the volume of budget revenues and receipts of foreign currency in Ukraine and to stimulate the development of the digital economy. The implementation of the concept will also allow to harmonize the legislation of Ukraine in the sphere of virtual currencies with EU legislation”, — stated in the message Department.

The Ministry of economic development noted that in 2017 Ukraine entered the top-10 countries by the number of users of the cryptocurrency. It is reported that for a year and a half Ukrainian developers during the ICO has raised more than $100 million.

ForkLog previously reported that the Ministry of Finance of Ukraine announced the establishment of a working group for the preparation of tax legislation concerning cryptocurrencies.

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