{"id":11856,"date":"2024-03-21T17:40:58","date_gmt":"2024-03-21T15:40:58","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-market-regulation-in-ukraine-included-in-e50-billion-reform-plan\/"},"modified":"2024-03-21T17:40:58","modified_gmt":"2024-03-21T15:40:58","slug":"bitcoin-market-regulation-in-ukraine-included-in-e50-billion-reform-plan","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-market-regulation-in-ukraine-included-in-e50-billion-reform-plan\/","title":{"rendered":"Bitcoin Market Regulation in Ukraine Included in \u20ac50 Billion Reform Plan"},"content":{"rendered":"<p>The Ukrainian government <a href=\"https:\/\/www.kmu.gov.ua\/news\/uriad-zatverdyv-plan-dlia-realizatsii-prohramy-ukraine-facility\">approved<\/a> a reform plan under the Ukraine Facility program, which aims to secure \u20ac50 billion from the EU between 2024 and 2027.<\/p>\n<p>The <a href=\"https:\/\/www.ukrainefacility.me.gov.ua\/wp-content\/uploads\/2024\/03\/plan-ukraine-facility.pdf\">document<\/a> includes provisions concerning the cryptocurrency market.<\/p>\n<p>In the context of combating corruption and money laundering, Ukraine commits to aligning its local legislation with European standards and <span data-descr=\"Financial Action Task Force\" class=\"old_tooltip\">FATF<\/span> norms regarding virtual assets, targeted financial sanctions, and investigations.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cParticularly important are the issues of ultimate beneficial ownership and supervision of certain enterprises and professions,\u201d the document notes.<\/p>\n<\/blockquote>\n<p>To counter illegal activities, the government emphasized the need to amend the relevant law \u201cOn Virtual Assets\u201d in line with <span data-descr=\"Markets in Crypto Assets\" class=\"old_tooltip\">MiCA<\/span> provisions and to implement cryptocurrency market taxation.<\/p>\n<p>The Cabinet believes that effective regulation will enhance Ukraine&#8217;s investment appeal.<\/p>\n<p>The work in this area is expected to be completed by the end of 2025.<\/p>\n<p>Cryptocurrencies are also mentioned in the list of financial market reforms. Ukrainian authorities plan to improve the infrastructure of electronic finance and digital assets, drawing on European experience. There are also plans to expand the powers of the <span data-descr=\"National Securities and Stock Market Commission\" class=\"old_tooltip\">NSSMC<\/span>.<\/p>\n<p>Overall, the plan for the Ukraine Facility includes more than 150 indicators across 69 reform areas, with implementation scheduled until 2027.<\/p>\n<p>The document has already <a href=\"https:\/\/interfax.com.ua\/news\/political\/974746.html\">been submitted<\/a> to the European Commission for consideration. To come into effect, it must be approved by the committee of EU member states.<\/p>\n<p>Earlier, ForkLog reported that Ukraine excluded <a href=\"https:\/\/u1f987.com\/en\/news\/ukraine-rejects-preferential-taxation-for-cryptocurrency-transactions\">preferential taxation<\/a> for cryptocurrency transactions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ukrainian government approved a reform plan under the Ukraine Facility program, which aims to secure \u20ac50 billion from the EU between 2024 and 2027. The document includes provisions concerning the cryptocurrency market. In the context of combating corruption and money laundering, Ukraine commits to aligning its local legislation with European standards and FATF norms [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11855,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1269,733,36,16],"class_list":["post-11856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrencies","tag-europe","tag-regulation","tag-ukraine"],"aioseo_notices":[],"amp_enabled":true,"views":"48","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=11856"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11856\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/11855"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=11856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=11856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=11856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}