{"id":87427,"date":"2023-11-23T14:45:18","date_gmt":"2023-11-23T12:45:18","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=87427"},"modified":"2025-09-13T11:45:06","modified_gmt":"2025-09-13T08:45:06","slug":"ukraines-ministry-of-digital-transformation-outlines-conditions-to-resume-hryvnia-denominated-trading-on-bitcoin-exchanges","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ukraines-ministry-of-digital-transformation-outlines-conditions-to-resume-hryvnia-denominated-trading-on-bitcoin-exchanges\/","title":{"rendered":"Ukraine&#8217;s Ministry of Digital Transformation outlines conditions to resume hryvnia-denominated trading on Bitcoin exchanges"},"content":{"rendered":"<p>The adoption of legislation on virtual assets would allow resuming hryvnia-denominated operations on foreign cryptocurrency exchanges, according to Yulia Parhomenko, director of the Directorate of Digital Economy at Ukraine&#8217;s Ministry of Digital Transformation.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.facebook.com\/plugins\/post.php?href=https%3A%2F%2Fwww.facebook.com%2FJulia.Parhomenko%2Fposts%2Fpfbid02B4fAhnGB78TE4zvwZADu4Am7F9ym3sjWnZuYwKN9bH578q6UwHjj5MGaDLAhMZ75l&#038;show_text=true&#038;width=500\" width=\"500\" height=\"523\" style=\"border:none;overflow:hidden\" scrolling=\"no\" frameborder=\"0\" allowfullscreen=\"true\" allow=\"autoplay; clipboard-write; encrypted-media; picture-in-picture; web-share\"><\/iframe><\/p>\n<p>According to her, the Ukrainian cryptocurrency market is currently in a state of stagnation due to the lack of regulation.<\/p>\n<p>The entry into force <a href=\"https:\/\/u1f987.com\/en\/news\/ukrainian-parliament-approves-updated-law-on-virtual-assets\">law adopted in 2021<\/a> on the &#8216;On Virtual Assets&#8217; law has been postponed until the taxation of digital asset operations is introduced. In addition, the text of the regulation has been updated to reflect <a href=\"https:\/\/u1f987.com\/en\/news\/ukraine-to-align-its-cryptocurrency-law-with-eu-mica-rules\">the provisions of the European regulation<\/a> <span data-descr=\"Markets in Crypto Assets\" class=\"old_tooltip\">MiCA<\/span>. A new version was submitted to Ukraine&#8217;s Verkhovna Rada on November 7.<\/p>\n<p>Alongside it, <span data-descr=\"National Securities and Stock Market Commission of Ukraine\" class=\"old_tooltip\">\u041d\u041a\u0426\u0411\u0424\u0420<\/span> presented <a href=\"https:\/\/u1f987.com\/en\/news\/tax-bill-on-cryptocurrency-transactions-submitted-to-verkhovna-rada\">a tax bill<\/a>, proposing a rate of 18%, which was met with <a href=\"https:\/\/u1f987.com\/en\/news\/ukraine-proposes-partial-tax-relief-for-cryptocurrency-holders\">criticism<\/a> from civil society.<\/p>\n<p>In turn, the Ministry of Digital Transformation presented <a href=\"https:\/\/u1f987.com\/en\/news\/ukraine-proposes-alternative-tax-on-bitcoin-transactions\">a draft of an alternative law<\/a>, which envisages a gradual increase in the rate for individuals and exemption of legal entities from VAT, except for transactions involving tokenised assets.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abWe face the task of swiftly passing the legislation &#8216;On Virtual Assets&#8217; to resume the operation of fiat gateways with virtual-asset service providers registered outside Ukraine, enabling market participants to operate fully,&#8217; Parhomenko said.<\/p>\n<\/blockquote>\n<p>Among the department&#8217;s proposals is the creation of an innovation zone for testing digital products, where one can operate for three years without prior registration.<\/p>\n<p>The official stressed that implementing all provisions of their bill would strengthen Ukraine&#8217;s competitiveness in the global crypto market.<\/p>\n<p>In March 2023, foreign cryptocurrency exchanges reported a <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-exchanges-suspend-hryvnia-deposits-and-withdrawals-for-ukrainian-users\">temporary suspension of operations<\/a> via hryvnia-denominated bank cards amid an <a href=\"https:\/\/u1f987.com\/en\/news\/binance-cites-reason-for-blocking-transactions-via-hryvnia-denominated-bank-cards\">intensified crackdown on illegal gambling<\/a>.<\/p>\n<p>Since 16 March 2022, PrivatBank has temporarily barred customers from funding hryvnias to cryptocurrency exchanges, though this did not affect the Ukrainian trading-platform market. The restriction stems from the National Bank&#8217;s decision and remains in force during martial law.<\/p>\n<p>Additionally, to curb capital outflows, from the end of April that year the NBU <a href=\"https:\/\/u1f987.com\/en\/news\/nbu-bans-crypto-purchases-from-hryvnia-accounts\">restricted purchases of cryptocurrencies<\/a> to 100,000 hryvnias per person per month.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The enactment of the &#8216;On Virtual Assets&#8217; law would allow resuming hryvnia-denominated operations on foreign cryptocurrency exchanges.<\/p>\n","protected":false},"author":1,"featured_media":87428,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1138,36,686,16],"class_list":["post-87427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-opinions","tag-regulation","tag-sanctions","tag-ukraine"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/87427","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=87427"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/87427\/revisions"}],"predecessor-version":[{"id":87429,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/87427\/revisions\/87429"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/87428"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=87427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=87427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=87427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}