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Title :  Ukraine's New policy to Legalize, Crypto, taking into account the whole scale of the adoption of
Lasting :   4,1
User :  Shakus
Date of publication :   2019-10-03
Views :   397
Liked :   759
Downloaded once :   335


Frames Ukraine's New policy to Legalize, Crypto, taking into account the whole scale of the adoption of





Description Ukraine's New policy to Legalize, Crypto, taking into account the whole scale of the adoption of

In an official communication, the Ukrainian government has confirmed its plans to the legal framework for the legalization of crypto in the region.

As part of an initiative to examine and recognize cryptocurrency as an emerging technology, Economic development and the Ministry of trade of Ukraine published a new policy of the state for the monitoring of the different cryptocurrency, in connection with the areas, which will be in force until the end of 2021.

Part Two Of The Plan

Along 2018 and 2019, the government of Ukraine will be integrated in the regulatory framework, the strictly local cryptocurrency exchange market. Crypto trading platforms that are required to provide know your customer (KYC) and anti-money laundering (AML) systems help the local authorities for the monitoring of the market.

By 2020, the government has the intention to go deeper into the cryptocurrency mining, smartphone, contract, protocols, and control how the second part of the initiative, in order to recognize cryptocurrencies as an asset class and industry.

Researchers Denis Zarytsky has declared that the official document released by the government of Ukraine has indicated up to 5% of the tax to pay, the companies and individuals with cryptocurrency holdings, a rate that is substantially smaller than from other regions, such as France and the UNITED Kingdom, where more than 10 percent of the tax on cryptocurrency investments.

The regions have recognised the cryptocurrencies that the properties impose higher taxes, such as Japan and Australia have done in the past. Beginning in 2018, Japan and Australia, the double taxation of crypto is eliminated.

"You have classification the aim of identifying the guidelines for the token. In addition, all aspects related to the smart contract and cryptocurrency mining try. Therefore, this work will continue. There are two phases for the implementation of this new policy of the state. The hope is that this policy, in fact, up to the year 2021. In addition to the new state policy, in particular the government of a new law is in the process of design. There is a new 5% tax to pay to the institutions and people with cryptocurrency holdings."

In October, Yuriy Derevyanko, a member of the movement " anti-corruption, New forces and a legislator in the Ukraine, a call for the abolition of the tax on crypto until the end of 2020.

Derevyanko declared that crypto has the potential to be one of the largest markets in the Ukraine and the driving force of the economy of the country.

"I think we should impose a moratorium on the taxation of the [crypto -] zone for the next 10 years. We need to regulate and to legalize this segment, the engine of a new economy".

In today's time, both the opposition and the ruling party in the Ukraine continue to be positive on the long-term growth of the cryptocurrency sector and the technology of the blockchain.

The positive mood in the new asset class in the country could have developed an accelerated implementation of the Directive from the government to legalize cryptocurrencies in the next three years.

Behind the Japan and South Korea

Singapore, South Korea, Japan, Switzerland, the UK and France have been shown to facilitate significant progress in terms of regulatory and infrastructure of the institution, the growth of the demand for the asset class.

While local experts continue to be optimistic on the plan of three years from the Ukraine, some expressed concerns about the possibility of the initiative, and the period of three years, to take advantage of other emerging cryptocurrency markets.

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Comments Ukraine's New policy to Legalize, Crypto, taking into account the whole scale of the adoption of



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