New Council at Ukraine’s Securities Watchdog to Draft Crypto Taxation Regulations
A special council under Ukraine’s securities regulator will be tasked to develop rules for crypto taxation in the country. The new body will be also responsible for coordinating the regulation of various crypto activities and adjustments to the applicable legislation.
The National Securities and Stock Market Commission of Ukraine (NSSMC) has set up an advisory council that will be entrusted with the further development of the regulations for the digital asset market in the Eastern European nation.
The new board’s first task will be to prepare amendments to the country’s Tax Code reflecting the specifics of taxing cryptocurrency transactions, the authorities in Kyiv said in an announcement published before the weekend.
The changes are necessary in order to enforce Ukraine’s law “On Virtual Assets,” which was adopted in September 2021 and signed after revisions by President Volodymyr Zelenskyy in March, this year. The council will draft the respective amendments to the VA law, too. According to the NSSMC, the law will be finalized taking into account the provisions of the European Markets in Crypto Assets (MiCA) framework, the crypto news outlet Forklog noted in a report.
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