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A bill on the classification of digital assets was transferred to the Verkhovna Rada of Ukraine. Signatures of the document left 23 people’s deputies from different factions. About this at the conference BlockchainUA in Kiev, said People’s Deputy Alexei Mushak.

The document introduces the term “virtual assets”, which are divided into cryptocurrencies and token-assets.

Crypto currency is defined as a “virtual asset in the form of a token, which functions as a way of exchanging or preserving value.” In turn, the token-asset must “certify the proprietary or other rights of the owner of the token that meet the obligations of the issuer token.”

It is expected that the document can be adopted before the end of the year.

In addition, according to Mushak, until 2024 the deputies intend to impose a tax on individuals and legal entities on the profit from the cryptocurrency in the amount of 5%.

Among other things, it is proposed to remove from the state the authority to regulate exchange transactions between different cryptocurrencies, leaving behind it only control over the transfer of digital assets to fiat through crypto-exchanges.

Recently in September, Deputy Finance of Ukraine, Sergei Verlanov, said that operations with cryptocurrencies should be taxed on income of individuals at a rate of 19.5%.