CEX.IO LABS participation in legislative initiatives
On 22 October 2019, the presentation of legislative projects on the cryptocurrency market regulation took place. During the event, participants discussed іssues related to the introduction of the concepts of cryptocurrencies and virtual assets into the legislation of Ukraine, the specifics of taxation, and the dissemination of procedures for dealing with money laundering and financing of terrorism through operations with cryptocurrencies. Legislative projects are drafted by BRDO and awaiting submission by Blockchain4Ukraine, a group of deputies.
CEX.IO LABS experts participated in the discussion and the process of development of these initiatives as experts.
CEX.IO LABS positively evaluates the possibility of adopting these initiatives, because cryptocurrencies and virtual assets have been a part of the financial system of Ukraine for a long time and are in dire need of official status and regulation. CEX.IO LABS supports the official legal status of cryptocurrencies, the introduction of the concept of mining and other terms that describe operations with cryptocurrency, as well as necessary AML procedures.