Today, President of Ukraine Volodymyr Zelenskyy signed the Law of Ukraine "

It creates conditions for launching a legal market for virtual assets in Ukraine. The new market will be regulated by the National Securities and Stock Market Commission.

Signed Law:.

defines the legal status, classification and ownership of virtual assets;

determines market regulators - the National Bank of Ukraine and the National Commission for Securities and the Stock Market;

creates conditions for the further formation of the legal framework in the virtual asset market;

determines the list of virtual asset service providers and the conditions for their registration;

provides for the introduction of financial monitoring measures in the field of virtual assets.

The National Securities and Stock Market Commission will:.

form and implement the state policy in the field of virtual assets;

determine the order of turnover of virtual assets;

issue authorizations to VA service providers;

carry out regulation, supervision and financial monitoring in this area.

Until that moment, the development of the legal field in this area was carried out by the Ministry of Digital Development. A profile law was developed together with representatives of the industry. Now the Ministry of Digital Development is also actively working on amending the Tax and Civil Codes of Ukraine to fully launch the virtual assets market.

The signed Law comes into force from the date of entry into force of the Law of Ukraine on amendments to the Tax Code of Ukraine on the peculiarities of taxation of transactions with virtual assets.

The signing of this Law by the President is another important step towards bringing the crypto sector out of the shadows and launching a legal market for virtual assets in Ukraine..