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    Tag: #Cryptocurrency

    “Point of No Return” in the Legal Regulation of Cryptocurrency in Ukraine

    Published: Алексей Рабышко | 11.05.2018 | blog

    On May 7, the 43rd Annual Conference of the International Organization of Securities Commissions (IOSCO) began its work in Budapest. The head of the National Securities and Stock Market Commission Timur Khromaev represent Ukraine at the conference. During the work of the relevant committees and regulatory seminars, Timur Khromaev pointed out that the regulator is in favor of making a decision to recognize cryptocurrency as a financial instrument. The official believes that Ukraine has already passed the “point of no return” regarding this issue and it is time for its consideration by the financial regulator of the country. It is expected that Ukraine’s securities regulator will raise the issue of the status of the cryptocurrency at the next meeting of the Financial Stability Board in Kyiv. The head of the National Securities and Stock Market Commission of Ukraine believes that digital currencies should be recognized as financial instruments. Such a solution will allow legalizing crypto units in the country, although not in all their possible functions. “I think it will be very timely to consider the recognition of some crypto units as financial instruments during the...

    Concept of Cryptocurrency Has Been Introduced in the Legislation of the European Union

    Published: Dmitriy Batrakov | 29.12.2017 | news

    Over the past few years, the development of Bitcoin has been increased, which is actively discussed by the governments of different countries. In this regard, the European Union raised some concerns about funding of terrorism, money laundering and tax evasion, which might be related to cryptocurrencies. This is the reason why the European legislator has introduced the concept of cryptocurrency into the Fourth Anti-Money Laundering Directive, where Bitcoin is defined as a “monetary instrument”. As the European Commissioner for Economic and Financial Affairs Pierre Moscovici notes, to date Bitcoin is not considered as an alternative currency along with dollar or euro due to volatility and much speculation. It is noteworthy that the differences between the definitions of Bitcoins in the EU Directive and in the US legislation are not significant. Details of the political discussions regarding the cryptocurrency in the European Parliament and the further legislative prospects for electronic money are still...

    Legal Regulation of ICO in Different Countries

    Published: Olena Kamenetska | 28.12.2017 | blog

    Earlier in our articles, we have already considered what Initial Coin Offering is. However, we remind that the Initial Coin Offering (ICO) is a popular method among start-ups and other companies to raise capital. Investors participate in the collection of financial resources by transferring funds to the issuer in official currencies such as dollar, euro, yuan, etc. or in cryptocurrencies, for example, Bitcoins or Ethers, in exchange for digital tokens (Tokens, electronic coins). It is Tokens that confirm the rights of the holder to receive profit or the fulfillment of obligations on the part of the issuer. In addition, Tokens can be used to pay for services/goods of the issuing company. In contrast to the initial public offering (IPO), usually Tokens do not represent an ownership interest or receipt of dividends from the issuing company. Investors who participate in the ICO often expect to profit from the development of the activities of the company in the future, or play at increasing the value of Tokens (probably the brightest example at the moment is the rise in the price of Bitcoin). Like all cryptocurrencies, Tokens are based on Blockchain (distributed ledger technology,...