Ukraine to revise virtual assets law in line with EU crypto rules

Ukraine’s law “On Virtual Assets” — the main piece of legislation that concerns the country’s crypto space, adopted in early 2022 — will be amended in accordance with the provisions of the European Union’s Markets in Crypto Assets (MiCA) legislative package.

Since the East European nation was granted the status of a candidate for EU membership, Ukraine needs to adapt its national legislation to European standards, the country’s Ministry of Digital Transformation explained, quoted by the crypto news outlet Forklog.

Government efforts to regulate the crypto space come after Ukraine gradually became a leader in terms of cryptocurrency adoption in the region and beyond. Blockchain analytics company Chainalysis ranks the country third in the latest edition of its global crypto adoption index.

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Topics: Cryptocurrencies, Legal, Legislation & regulation, News, Payments & fintech
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