In 2022, Ukraine initiated the procedure to join the European Union (EU). She is therefore not yet a member. However, the state wants to take inspiration from the new regulations on cryptos in Europe (MiCA). A measure deemed relevant for the authorities, but also strategic. Cryptos indeed contribute to the war effort against Russia.
Ukraine relies on MiCA standards for its crypto legislation
News of the adoption of MiCA standards continues to generate a wave of positive feedback. After those of industry players, it is the turn of a State, Ukraine, in this case, to congratulate this major regulatory development. A standard that Ukraine wants to be inspired by to implement its crypto legislation.
The country announced itThursday April 20, by Yaroslav Zheleznyak, the vice-president of the Ukrainian tax committee. “My colleagues and I from the National Securities and Exchange Commission (NKCPFR) and other regulators are already working on implementing part of the provisions of the MiCA so that cryptoassets are legal in Ukraine as well. », the official said via a Telegram channel.
Yuriy Boyko, one of the members of the NKCPFR gave some details about this national crypto bill. The text of the latter would also be in the process of being finalized. At the same time, exchanges should have ” Soon ” place, “with key stakeholders”. If these succeed and the initiative is validated, Ukraine would become the first nation, outside the EU, to adhere to the MiCA standards.
For now, it is impossible for Ukraine to directly integrate the MiCA regulation into its legal arsenal. This, because the country is not integrated from the European Union. An integration which he requested last year and which has not yet been accepted. If the approach had already succeeded, a procedure for transposing the MiCA standards would have sufficed to integrate them.
All in all, Ukraine should accelerate the implementation of a national crypto regulation, in the coming days. The stakes are more than strategic for the country. According to a study published by blockchain analysis firm Elliptic, Ukraine received $212.1 million in crypto aid. This, between February 2022 and February 2023.
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