Ukraine plans to take strict control of cryptocurrency operations

The development of the cryptocurrency market cannot remain without the attention of the state. This was stated by Secretary of the National Security and Defense Council of Ukraine Alexander Turchynov at a meeting of the National Coordination Center for Cyber ​​Security.

“The lack of control over the circulation of cryptocurrencies and the anonymity of payments create potential preconditions for their use for the purpose of legalizing funds obtained by criminal means, payment for goods prohibited for free circulation, in particular, drugs and weapons, makes it possible to finance terrorism, in particular in the occupied territories of Ukraine,” notes the press service of the National Security and Defense Council, citing information from the National Bank of Ukraine, the Security Service of Ukraine and the National Police.

According to Turchynov, further the removal of the state from this issue and the legal vacuum in the cryptocurrency market due to the lack of a regulatory framework “creates threats to the economy and security of the state.”

“Given the rapid development of cryptocurrencies in the world, this issue cannot remain without the attention of the state,” Turchynov noted.

By decision of the National Coordination Center for Cybersecurity in Ukraine, a working group will be created with the participation of representatives of the NBU, the Ministry of Finance, the National Commission for Securities and the Stock Market of Ukraine, the SBU, National Police, State Financial Monitoring Service, State Fiscal Service and State Service for Special Communications and Information Protection. This group will develop regulatory proposals for regulating the cryptocurrency market.

In addition, it has been instructed to develop a mechanism for ensuring law enforcement agencies’ access to data from cryptocurrency exchanges with the obligation of these entities to store information about all transactions for a certain period and to disclose information about the client upon a reasoned request.

“The development and implementation of all these measures will also include the development of international cooperation to introduce comprehensive regulation of the circulation of cryptocurrencies and avoid the criminalization of this segment,” notes press service of the National Security and Defense Council.

According to https://www.segodnya.ua