Ukraine has been urged by the IMF to finalize legislation regarding virtual assets by the end of 2024 due to regulatory concerns and economic potential, as stated by Oleksandr Bornyakov, a deputy minister of digital transformation of Ukraine. This requirement is part of the Memorandum of Economic and Financial Policies signed between Ukraine and the IMF, highlighting the need for regulation in the new sector to ensure price stability and effective monetary transmission.
The Ministry of Digital Transformation team in Ukraine stresses the importance of implementing state regulation in the crypto asset market, with two bills currently registered in the country’s Parliament (bill 10225 and bill 10225-1). Bornyakov emphasized the urgency of establishing principles for the regulation and taxation of virtual assets, stating that proper crypto regulation will boost Ukraine’s economy and build trust among international partners.
In addition to this development, Binance has allocated $150k for social projects in Ukraine. Stay updated by following us on Google News.