Ukraine will legalize bitcoin and other encrypted currencies within three weeks

2017-04-23 08:01:00 admin

Ukraine financial stability Committee of cabinet ministers in late August 2017 held a meeting to discuss other digital currency bitcoin legal status in the country. It is reported that ministers have agreed to decide the issue in three weeks to answer.

The cabinet is considered to be the highest administrative organ of Ukraine, the controlling party of the parliament of Ukraine.

Ministers will work with the Ministry of finance, the National Bank of Ukraine, the Ukraine Parliament and the block chain community to solve the problem, according to Olexandr Danchenko, the people's representative of the Parliament

The other comment on the meeting

Vice chairman of the National Bank of Ukraine Committee Tymofiy Mylovanov commented that the conference participants understand the block chain, the importance of industry and development of digital currency, disruptive technology demand, the current Ukraine needs to provide reasonable regulatory support, and protect it from illegal intrusion.

At the same time, the Ukraine state power market committee chairman Timur Khromaev said the blockchain, coins, tokens and other technical solutions has become a part of the country's financial market, their duty is to establish a proper legal status for these tools.

However, the National Bank of Ukraine committee deputy director Yakiv Smoliy commented that the central bank will not admit bitcoin, does not ban bitcoin mining activities, he further claimed that bitcoin is not defined by the central bank, the category of money substitutes and electronic money, the central bank does not determine the definition of virtual currency.

He pointed out that regulators will in the near future, in the framework of the financial stability committee to establish the definition of bitcoin