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UKRAINE’s FINANCIAL STABILITY COUNCIL REGULATES CRYPTO...
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UKRAINE’s FINANCIAL STABILITY COUNCIL REGULATES CRYPTO RELATED ACTIVITIES IN THE COUNTRY

The National Securities And Stock Market Commission(SSMCS) head, Timur Khromaev posted on his Facebook wall today, reporting that crypto activities have been regulated in the country by the financial stability council of Ukraine.

According to him, they just want to make sure that the country is not left out when talking about crypto related areas or countries. Majorly, they want digital currencies and tokens to be recognized in their place of Abode, so the governmental bodies surrounding crypto economy in the country would take up the responsibilities of regulating these financial instruments which will include issuing license transaction participants and as well defining information disclosure conditions.

The Governor of the National Bank of Ukraine, the minister of finance, the heads of the National Securities And Stock Market Commission and the National commission for state regulation of financial services market, lastly the Managing Director of the deposit guarantee fund all constitutes Ukraine’s financial stability council. Their major task is to make decisions for the benefit of all and in the process, minimize risk connected to the stability of the National Financial and Banking systems.

Khromaev’s comment on his post on fb reads thus:

“This is an important first step in building a consensus among government agencies and financial regulators,”.

This statement confirms the commitment to cooperate with the Verkhovna Rada of Ukraine on the development of legislation and a regulatory framework for cryptocurrencies.

He did not actually stop there, he went further to say that they hope to achieve transparency and a high level of interaction between investors and crypto market participants.

 

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