Ukraine Unveils Crypto Oversight Model

Ukraine Establishes Dual-Regulator Model for Cryptocurrency Market

• The National Securities and Stock Market Commission (NSSMC) will oversee most crypto assets, excluding E-Money Tokens (EMT).
• The National Bank of Ukraine (NBU) will regulate E-Money Tokens and their issuers.
• This collaborative model focuses on financial stability and consumer protection.
• The legislative framework aims to legalize cryptocurrency by mid-2025.
• Tax regulations for cryptocurrencies will be similar to those for securities.

Ukraine’s new regulatory framework assigns the NSSMC to supervise most crypto assets, while the NBU manages EMTs, aiming for legalization by mid-2025 with tax rules akin to securities.