Vice-President of the Ukrainian National Lobbyists Association: lobbyists will join the promotion of the law on cryptocurrencies

Oleksandr Chernykh, Vice President of the Ukrainian National Lobbyists Association, commented on the latest developments in the crypto market and said that the association is preparing to actively participate in the process of improving the legislation on cryptocurrency regulation in Ukraine.

According to Chernykh, the shadow circulation of cryptocurrencies poses serious challenges for the state and business: the budget loses significant funds, and Ukrainian crypto projects are often forced to go abroad due to the lack of a legal framework. He emphasized that the draft law No. 10225-d adopted in the first reading could be a turning point for the legalization of digital assets, their taxation, and licensing of exchanges.

“The crypto asset market in Ukraine cannot continue to operate on the principle of the “wild west”. Regulation is long overdue, and it is important that it is balanced and takes into account both the interests of the state and users,” emphasized Chernykh.

He also noted that the Ukrainian National Lobbyists Association is preparing to lobby for issues related to cryptocurrencies, including clarification of tax rules, licensing procedures, and business guarantees. According to him, this will not only increase budget revenues but also create transparent conditions for investors and entrepreneurs.

The draft law is due to pass the second reading, which will address key issues such as the definition of a crypto market regulator, the timing of the tax amnesty, and mechanisms for protecting the rights of participants.