Cyberpolice in Ukraine Seeks Regulation of Cryptocurrencies
The subject of regulating cryptocurrencies has been debated in many countries and it seems that Ukraine makes no exception from this point of view. The cyberpolice of the country, which is the cybercrime combating department of the police, has reportedly claimed that cryptocurrencies should be regulated.
Cyberpolice says the cryptocurrency market should be regulated as soon as possible
A statement from the head of Ukraine's cyberpolice indicated that regulation at legislative level should be applied to all matters regarding cryptocurrencies. The cyberpolice chief, Sergei Demedyuk, also said that authorities should intervene as soon as possible, and should also adopt a new law regarding taxing of cryptocurrency transactions.
According to Demedyuk, there are two options that authorities have at this point. They can either ban or they can regulate cryptocurrencies. So, according to Demedyuk, this should be addressed, no matter what will be the conclusion. He said that:
““In case of failure to resolve the status of cybercriminals in Ukraine in the near future, the state must officially prohibit its circulation, so that everyone knows that buying or selling cryptographic goods on the territory of Ukraine risks losing their financial investments irrevocably, without the right to protection and redress.””
However, Demedyuk made an interesting statement, saying that the cyberpolice was in favor of regulating the cryptocurrency market and not necessarily banning it. However, it is yet to see on which direction authorities will decide to go. For now, nothing much has been revealed.
Still, the pressure on Ukrainian authorities to regulate the cryptocurrency market has become quite high. Several people have called on authorities to work on regulating cryptocurrencies. Reportedly, a discussion on the matter was held by the National Cybersecurity Coordination Center in Kiev, which set up a working group to create the legal framework.
