Economic Development Ministry initiates adoption of ‘cryptocurrency concept’ in Ukraine

"The Economic Development Ministry initiates the adoption of the concept of state policy in the field of virtual assets, the purpose of which is to create understandable conditions for conducting activities in the field of virtual assets and virtual currencies (cryptocurrency)," the press service of the Economic Development and Trade Ministry of Ukraine reports.

The concept proposes to define at the legislative level the key terms related to virtual assets, such as “virtual currency” (“cryptocurrency”), “virtual assets”, “ICO / ITO”, “mining”, “smart contract”, “token.”

The concept is expected to be implemented in two stages up to 2021.

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