The government in Kiev intends to legalize cryptocurrencies and comprehensively regulate the fintech sector as part of a new public policy developed by the economy ministry. The process may take up to three years to complete but eventually the industry built around digital assets should become a legitimate part of the country’s economy.
Parliament to Adopt Laws for ICOs and Smart Contracts
The new regulatory concept will be implemented in two stages. The legal status of cryptocurrencies, trading platforms and other entities dealing with digital assets must be determined in 2018 and 2019. By the end of next year, the Ukrainian government will analyze the market to identify trends and outstanding issues in order to put forward adequate proposals to regulate the whole sector.