On September 23, 2021, the next issue of the newspaper “Yarmarok” was printed. In this newspaper published a popular science publication entitled “Will cryptocurrency become a real means of payment in Ukraine?”, prepared by the professor of our department Ihor Basantsov.
In the article was analyzed the provisions of the law No. 3637 “On Virtual Assets”, which should regulate relations arising from the conclusion of agreements with virtual assets, as well as provide a unified approach to organizing cryptocurrency trading.
The author focuses on the latest legislative changes in the organization of financial monitoring, which will be carried out in accordance with the recommendations of the FATF (Financial Action Task Force on Money Laundering) and the regulation of banking operations for the exchange of fiat funds for cryptocurrency is clearly defined.
It is noted. that the cryptocurrency will acquire legal status and market participants will be entitled to judicial and other methods of protecting their rights to virtual assets.
Ihor Basantsov predicts that the adoption of this law will legalize the cryptocurrency market, attract foreign investment and develop this financial sector. In addition, the regulation of the cryptoasset market will reduce corruption risks, organize an effective fight against the financing of terrorism and money laundering