"The Financial Stability Council of Ukraine has supported the concept of cryptocurrency regulation. Information has been published by the head of National Securities and Exchange Commission Timur Hromayev.
The concept includes recognition of certain categories of cryptocurrency and tokens as financial instruments, defines a role and functions of public authorities in regulation of these tools, defines conditions of disclosure and other factors.
In the Financial Stability Council the governor of the National Bank of Ukraine, the Minister of Finance, the chairman of National Securities and Exchange Commission, the National commission on state regulation of the markets of financial services and the CEO Fonda of deposit insurance. It is entrusted to it to reveal and minimize the risks connected with national financial and banking systems. Decisions of Council are perceived as the recommendation.
Hromayev has also noted that it is the important first step in creation of consensus between public authorities and financial regulators that confirms commitment to work with the Verkhovna Rada of Ukraine on development of the legislation and the regulatory base for cryptocurrency."