Cryptocurrencies Law Amendments and FATF Compliance Adopted In Ukraine
The deputies of the Verkhovna Rada in the second reading adopted the final version of the law on combating money laundering and the financing of terrorism. In fact, this is the first legislative act that introduces the concept of cryptocurrencies in the Ukrainian legal field.
At the legislative level, cryptocurrencies are now assigned the status of an asset for purchase and sale, as well as storage. Individuals can also participate in operations.
According to the adopted amendments, all transactions worth more than 300,000 hryvnias will be carefully checked. Fines were also reduced (compared to those proposed in the first version) for violating the prescribed rules for market participants.