The Ukrainian parliament recently postponed consideration of a long-awaited bill on the legalization of virtual assets and taxation of cryptocurrencies. Vadym Grusha, founder and CEO of the crypto wallet Trustee Plus, reacted to the decision.
The Ukrainian parliament recently postponed consideration of a long-awaited bill on the legalization of virtual assets and taxation of cryptocurrencies. Vadym Grusha, founder and CEO of the crypto wallet Trustee Plus, reacted to the decision.
It was previously reported that the draft law on regulating the circulation of virtual assets in Ukraine was supported by the relevant committee; its adoption was also expected by the International Monetary Fund. However, it disappeared from the Verkhovna Rada agenda after a meeting at the Office of the President. The reason was an unexpected initiative from the regulators and a decision made at the OP level.
«We are disappointed that the situation with the draft law on virtual assets in Ukraine remains uncertain. Every day of waiting for the adoption of the draft law is another day behind the global trends in the blockchain innovation sector», — Vadym Grusha said in a comment to dev.ua.
According to him, this news was partly unexpected, but at the same time Trustee Plus understood the situation and therefore «made the decision not to wait for the opportunity to work in Ukraine, but to stop market research and focus entirely on the European market,» where regulations already exist. He added that Trustee Plus is already successfully operating within the European Economic Area.
«We hope that this blocking stage will be quickly passed and Ukraine will be able to join other countries that already have successful cryptocurrency regulations. For our part, we are open to participating in working groups and, based on our experience in the European market, are ready to contribute to the preparation of the final version of the legislation on virtual assets in Ukraine, realizing the complexity of this process and respecting the balanced approach of regulators,» the head of Trustee Plus noted.
According to anonymous sources in the Verkhovna Rada, the bill may not return to the session hall until June. However, under pressure from the IMF or EU partners, the process may be accelerated.
