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The President of Ukraine returns the Virtual Property Law to Parliament for amendment

Ukraine President Volodymyr Zelensky has postponed the signing of a bill aimed at setting the country’s legal framework for digital assets. On September 8, parliament passed a bill entitled “On Virtual Property”.

According to the statement, the president’s main objection to the current legislation is the cost of creating a new regulator to oversee digital assets:

According to the law, regulation of the virtual asset market will be implemented by various government agencies, in particular through the creation of a new executive body, depending on the type of asset. The establishment of a new agency under the provisions of this law would require significant expenditure from the state budget.

Instead of creating a separate regulator focused on digital assets, Zelenskyi proposed placing it under the supervision of the current National Securities and Exchange Commission, a regulator of the Verkhovna Rada, “the nation’s parliament.

This development seems to reflect a real effort by the Ukrainian authorities to implement a system for managing digital assets in the most practical way, rather than inverting the country’s forward-looking stance on cryptocurrencies.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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