Committee on Ukraine’s Integration into the European Union Supported the Draft Law “On Tokenized Assets and Crypto-Assets”

In November 2020, Draft Law “On Tokenized Assets and Crypto-Assets” №4328 was registered in the Verkhovna Rada of Ukraine. This Draft Law was developed by members of the “Research Center of Economic and Legal Solutions in the Area of Application of Distributed Ledger Technologies”, specialists from Simcord, people’s deputies and representatives of academia of Ukraine.

One of the most important and long-awaited assessments was received the other day. On March 31, 2021, the Committee on Ukraine’s Integration into the European Union considered and provided positive findings regarding Draft Law №4328 in the Verkhovna Rada of Ukraine.

The Committee has unanimously come to conclusion that the Draft Law “On Tokenized Assets and Crypto-Assets” does not contradict Ukraine’s international legal obligations in the field of European integration, but requires minor adjustments in terms of providing for legal liability for violation of the provisions of this Draft Law.

Alexander Kud, CEO of Simcord, who is one of the co-authors of Draft Law №4328 as well, commented on the Committee’s Findings as follows: “Emergence of legal certainty regarding digital assets as a type of tokenized assets opens up great prospects for information platforms implemented on the basis of the distributed ledger technology. The Bitbon System is such a platform and has a powerful legal foundation for resolving issues related to the implementation of property and non-property relations by implementing new methods of managing and accounting of property and non-property rights using digital assets.”

You can read the Findings of the Committee on Ukraine’s Integration into the European Union and the Draft Law of Ukraine “On Tokenized Assets and Crypto-Assets”, as well as see the list of authors by following the link: http://w1.c1.rada.gov.ua/pls/zweb2/webproc4_1?pf3511=70353.

Originally published at https://www.bitbon.space.