Financial regulators: Ukraine expressed its position on the status of cryptocurrencies

The national Bank of Ukraine, the national Commission on securities and stock market national Commission for regulation of financial services markets issued a joint statement on the status of cryptocurrency in the country.

The statement said that the financial regulators of Ukraine can not accept crypto currency in cash, currency and means of payment of another country, and currency value, electronic money, securities and cash surrogate.

Along with this, the statement noted that the regulators continue to work on the issue of legal status of cryptocurrency in Ukraine and legislative regulation of operations with them. This takes into account the position of the regulating authorities of other countries and recent trends in the development of such technologies.

The regulators also warned about the risks of crypto-currencies and operations with them:

«At the same time, we warn that any activities related to the operations of purchase, sale, exchange and conversion of cryptocurrencies carries a large number of risks that individuals and legal entities should be aware of before you engage in transactions with cryptocurrencies. All who are planning to invest your own money in cryptocurrencies needs to understand that committing such operations at your own risk».

Recall that at the present time in consideration of lie filed three bills related to the regulation of cryptocurrency in Ukraine.

The first was reported on 6 October. In this crypto currency is treated as property that can be exchanged for goods and services.

The second bill was filed one week after the first. In this cryptocurrency are considered to be financial assets.

The third document was registered on 30 October. It proposes to exempt from taxation income from the purchase and sale of cryptocurrencies and their derivatives, as well as income derived from mining.

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