MP: Ukraine wants to create a crypto reserve
In Ukraine, a draft law concerning the possibility of creating cryptocurrency reserves is planned to be presented soon. This was announced by the first deputy chairman of the Committee on Finance, Tax and Customs Policy, Yaroslav Zheleznyak, at the CRYPTO 2025 conference, attended by the Incrypted team.
«We will soon present a draft law from the industry on the possibility of forming crypto reserves,» he said.
The Incrypted team approached Yaroslav Zheleznyak for additional details about the initiative. We will update the material as soon as we receive a response.
During the discussion, participants also touched upon the issue of ongoing preparations for a comprehensive cryptocurrency regulation system in Ukraine. Reminder: at the time of writing, digital assets are not yet legalized. The draft law «On Virtual Assets» adopted in 2022 is being adjusted to align with European standards. Moreover, it will not be able to function without amendments to the Tax Code concerning cryptocurrency taxation.
According to Zheleznyak, deputies are currently cooperating with the Ministry of Digital Transformation of Ukraine, the National Bank, and the National Securities and Stock Market Commission (NSSMC) to make the new draft law less strict compared to European standards, as Ukraine is not yet a member of the European Union.
Earlier, during the Incrypted Talks Online, the MP already pointed out that while Ukraine has the status of a candidate for the EU, but is not yet a member, it retains an advantage and the «right to experiments».
Moreover, Zheleznyak once again noted that the question of the cryptocurrency market regulator is still unresolved. According to him, three options are being considered: creating a separate body or transferring the regulator’s functions to the NSSMC or the National Bank.
«I think the National Bank will win this competition. They have better contact with the IMF, but I wish all participants good luck,» stated the official.
Earlier, we thoroughly analyzed the possible appointment of the NBU as the chief regulator of the crypto industry and the potential consequences of this:
Nevertheless, the exact timing of the law’s adoption is still unknown, and no one can say when exactly it will happen, noted Zheleznyak.
Danylo Hetmantsev, the head of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, also spoke at the event, stating that the first reading of the draft law on the legalization of cryptocurrencies should take place in the first quarter of 2025, with the second reading occurring immediately after the first. He added:
«We will try to do everything possible to ensure that the law is adopted at least by the summer of this year.»
07 February 2025 г., 16:55
