The National Bank of Ukraine refused to support Draft Law No. 10225-d on the circulation of virtual assets, whose adoption was recommended by the parliamentary Committee on Finance, Tax and Customs Policy on November 4. It said the text does not reflect the compromises reached during drafting, particularly concerning foreign tokens treated as electronic money that could circulate in Ukraine without supervision equivalent to that applied to Ukrainian assets. The central bank also claims the power to assess these foreign assets and, if necessary, restrict their circulation in order to protect monetary sovereignty and financial stability. It further highlighted cartel and corruption risks in the licensing of trading platforms by the National Securities and Stock Market Commission. If adopted, the rules would enter into force on July 1, 2027, with a final vote by the Verkhovna Rada expected later in November.
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