Ukrainian network police support cryptocurrency legalization

nRunaway Comment: Ukraine’s police crackdown on cybercrime has expressed its support for the legalization of cryptocurrencies and related activities, regulation and taxation as soon as possible. If you can not supervise as soon as possible, you must use prohibited measures to alert investors to market risk. And the Central Bank of Ukraine does not support cryptocurrencies, but the parliament is already reviewing the regulatory proposals.n
nTranslation: Annie_Xun
Despite some concerns, the Ukrainian police department against cybercrime expressed its support for the legalization of cryptocurrencies. The cyber police department also raised the need to regulate cryptocurrencies “as soon as possible.” Although many agencies have called for regulation of cryptocurrencies, no new legislation has yet been introduced by the Ukrainian parliament.n
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Legalization or prohibitionn
According to local media reports, Sergei Demedyuk, Head of Cyber ​​Police, said there is a need to regulate everything from the legislative level to the use of cryptocurrencies. He thinks regulation must keep up as soon as possible. Laws must be amended to tax cryptocurrency-related transactions. The rules for running a cryptocurrency exchange must also be determined.n
If the government can not regulate the legal status of cryptocurrencies in the near future, the state must formally ban the circulation. Well, “Everyone knows that buying and selling cryptocurrencies in Ukraine risks losing all their investment without any protection or compensation, and it is impossible to recover.”n
However, the senior official said Ukrainian cyber police support the legalization of cryptocurrencies and mining. Although their circulation may be “based on the same basis as the financial pyramid.”n
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Regulatory calls soaringn
Demedyuk’s statement is one of the many voices that legitimize the country’s cryptocurrency. Before his statement, a study showed that dozens of Ukrainian officials held more than 21,000 bitcoin.n
Earlier this month at a meeting of the National Cybersecurity Coordination Center in Kiev, Ukraine, discussed the status of cryptocurrencies. The security service representative carefully examined the “uncontrolled liquidity” of cryptocurrencies in Ukraine and decided to set up a special working group to complete the legal framework. It will help other government departments to lay the foundation for the cryptocurrency market, formulate the regulatory process of transactions and clarify the various issues concerning taxation.n

Oleksandr Turchynov, secretary of the Ukrainian National Security Council, said the development of the cryptocurrency market can not be left behind. Pavel Petrenko, Ukraine’s Minister of Justice, said bitcoin must enter the legal regulatory system and government agencies must respond. January 12 Cryptocurrencies petition for legalization has been submitted to the President.n
Although the National Bank of Ukraine is still opposed to cryptocurrencies, lawmakers have proposed two proposals to regulate cryptocurrencies. The draft has been under discussion in parliamentary committees since October. One of the motions suggested monitoring the flow of cryptocurrencies and another aimed at simulating the trading of cryptocurrencies and related derivatives. Tax law corrections may include provisions that motivate mining companies. However, the legalization of bitcoin may take months, and the government needs to make legal documents for law enforcement.n

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