Monday , 19 February 2018

Cyber police of Ukraine supports legalization of cryptocurrency

The head of the Cyber Police Department Serhiy Demediuk told that the Cyber Police Department of the National Police of Ukraine supports the legalization of the cryptocurrency and reports that cryptocurrency can de facto belong to electronic money. According to him:

“De facto, by all signs, the cryptocurrency can belong to electronic money – a unit of value stored on an electronic device and accepted as a means of payment. At the same time, control over its transactions is ensured by its cryptographic protection. Thus, despite the fact that the existence and circulation of the cryptocurrency is based on the foundations of a financial pyramid, the cyber police support the idea of the legalization of the cryptocurrency in Ukraine, as well as the process of its mining (at least equating it to electronic means),” the cyber police said in a statement on its official Facebook page on Monday, January 29.

The cyber police noted that the idea of using blockchain technology in the public and private sectors is also supported.

“Today, there is a need to resolve at the legislative level the issues related to the use of the cryptocurrency as soon as possible, as well as the introduction of the necessary taxation of transactions on the purchase and sale of the cryptocurrency. In addition, it’s necessary to determine the respective rules for the functioning of Ukrainian cryptocurrency exchanges and cryptocurrency exchange points,” Demediuk was quoted as saying.

He also believes that all transactions with cryptocurrency in Ukraine should be conducted with mandatory identification of the owner of a cryptocurrency purse.

“If it is impossible soon to regulate the status of the cryptocurrency in Ukraine, the state should officially prohibit its turnover, so that everyone knows that by buying or selling cryptocurrency in Ukraine, they risk losing their financial investments irrevocably, without the right to protection and recovery of losses,” Demediuk said.

He also said that with the aim of legalization and settlement of cryptocurrency technologies in Ukraine, the cyber police are ready for cooperation with all interested agencies and organizations.

As reported, the National Bank of Ukraine continues a research project launched in late 2016 for the possible introduction of e-hryvnia – the national currency on the basis of blockchain technology.

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