Ukraine supported cryptocurrency market regulation initiative

Ukraine supported cryptocurrency market regulation initiative

Such information was published on the Facebook page of Timur Khromaev, the Chairman of the National Securities and Stock Market Commission.

On July 21, 2018, the Ukrainian Financial Stability Council supported for the concept of regulating the cryptocurrency market. According to it, the state is going to recognize some of the types of digital currencies and tokens as instruments of financial activity, legitimizing the role and participation of Ukrainian legislative bodies in the regulation of these processes.

Mr. Khromaev said that this concept provides an opportunity to overcome another barrier on the way to an agreement between the state and financial activity regulators, confirming the willingness to work with the Verkhovna Rada of Ukraine and the cryptocurrency market.

The head of the commission asserts that this will form the legislative and regulatory framework, ensuring transparent relations between all participants of the digital currency market.

However, the statement has already been criticized in social networks. Users complained of the government's intention to regulate the decentralized market system.

For instance, one user compared the activities of the authority with the attempts to regulate the meteor shower near the Earth.

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