A strategy for the development of the crypto market in Ukraine. What does it imply?
The Ministry of Digital Transformation of Ukraine, together with representatives of other departments and businesses, presented a strategy for the development of the virtual assets market for a period of three years.
The roadmap includes regulatory, educational and infrastructural activities in various areas. To implement them, the project participants created 10 working groups. Among the tasks:
- development of terminology and by-laws;
- promotion of tokenization of real assets;
- creation of educational materials at the basic, higher and industry levels;
- launching a pilot fiat-crypt gateway and organizing the purchase of bread for tokens;
- creation of a sandbox for projects of the ecosystem of virtual assets and others.
The authors of the initiative expect that by the end of 2021 Ukraine will adopt a law on virtual assets and the rules for their taxation, as well as introduce an AML policy for bitcoin exchanges, exchangers and their clients.
In three years, by May 2024, the project participants intend to bring Ukraine to the top 10 countries for the integration of cryptocurrencies. According to their estimates, with the successful implementation of the roadmap by this time:
- 47% of Ukrainians will use digital currencies;
- at least 10% of business tokenize assets or use them in their activities;
- educational institutions will launch a master's programme in decentralized finance.
The ecosystem of virtual assets requires rules that strike a balance between freedom and security. Only in this case the sphere of virtual assets will bring positive changes for the economy, society and every individual citizen.The Ministry of Digital Transformation of Ukraine