The National Bank of Ukraine will control the cryptocurrencies in the country

Local cryptocurrency ecosystem in Ukraine will be controlled by the National Bank of the country. It will happen according to the new bill, which was first submitted on October 6 in accordance with public reports. He sets out rules for the exchange of services, including the requirements for paying taxes and redemption of data. In particular, the bill calls for cryptocurrencies to be taxed as a kind of property, mirroring the approach taken by the U.S. Internal Revenue Service, which released a similar determination in 2014. The introduction of legislation is a notable development, given that the country’s central bank hinted that it could go on to regulate cryptocurrency activity in Ukraine in August. If the bill is adopted and signed, the National Bank of Ukraine will have two months from the date of adoption in order to create guidelines for exchange.

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