Loading...
The National Bank of Ukraine (NBU) has stated its inability to support the current draft bill on the regulation of virtual assets, arguing that it jeopardizes Ukraine's monetary sovereignty, financial stability, and market competition. The NBU supports regulating the cryptocurrency market under the EU's MiCA framework and has objected to the content of the draft submitted for its second reading. The NBU stated that the final text was delivered on the evening of November 4th, and several compromises reached between the working group, lawmakers, and the National Securities and Stock Market Committee of Ukraine (NSSMC) were removed. NBU Deputy Governor Oleksiy Shaban raised concerns at the committee meeting, but the meeting format failed to support a comprehensive discussion. The NBU warned that the draft bill could allow foreign tokens to enter the Ukrainian market in the absence of adequate regulation and leave loopholes for issuers to circumvent requirements. The draft bill leaves the number of platforms approved to operate over the next five years to the NSSMC and lacks safeguards to prevent anti-competitive behavior. The NBU called for transparent licensing rules to be enshrined in law and urged lawmakers to revise the draft bill in consultation with relevant parties. (Source: Bitcoin.com News)