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Vlad

@vadutin

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Ukraine Defines How It Will Regulate the Crypto Market During a meeting of the Financial Stability Council, Ukrainian lawmakers presented a model for the distribution of responsibilities between the National Securities and Stock Market Commission (NSSMC) and the National Bank of Ukraine (NBU) for overseeing the crypto market. The regulators will be responsible for licensing CASPs (Crypto Asset Service Providers), issuing stablecoins, ensuring transparency, AML/CFT compliance, and consumer protection. NSSMC – will oversee the issuance of tokens (excluding EMTs), monitor ART issuers, and supervise service providers not dealing with fiat currency. NBU – will oversee EMTs, crypto-to-fiat exchange operations, and establish requirements for such transactions. The model is based on the MiCAR regulation and envisions cooperation and data sharing between the two authorities.
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