Infographics NBU gathered to determine the legal status of bitcoin in Ukraine

In different countries klassificeret bitcoin as a virtual currency, a substitute for money, intangible assets, virtual goods


The financial stability Board until the end of August will hold a meeting to develop a position on the legal status of the cryptocurrency bitcoin in Ukraine and its regulation. This is stated in the comments of the Deputy Chairman of the National Bank of Ukraine Oleg Churia.

According to him, the Council will participate NBU, Ministry of Finance, State fiscal service, the State service for financial monitoring, the national Commission on securities and stock market, as well as the national Commission exercising state regulation in the sphere of financial services markets.

CORI said, now that bitcoin has no specific legal status in Ukraine. The definition of such a status in Ukraine is complicated by the lack of a consolidated approach to the classification and regulation of bitcoin transactions in the world.

“So, in a number of countries officially authorized bitcoin transactions. Usually they are considered as a commodity or investment asset for tax purposes are subject to the relevant legislation. In some countries, the bitcoin recognized monetary unit,” – said Cure.

According to him, for example, EU legislation today klassificeret bitcoin as “a digital representation of value, is not confirmed by a Central Bank or governmental authority and is not bound to a legally established exchange rate, which can be used as a medium of exchange for the purchase of goods and services, their transmission and storage, and can be purchased in electronic form”. The exchange of traditional currencies on a bitcoin unit is exempt from payment of value added tax.

“In different countries klassificeret bitcoin for virtual currency, a substitute for money, the intangible value of virtual goods and the like. For its part, the national Bank of Ukraine has yet to officially support either of the above definitions,” added CORI.

Recall, August 10 the police and the security service discovered on the territory of the state enterprise “Medical health center “IEW. Paton” 200 pieces of computer equipment for generation (mining) of bitcoin, who had worked in violation of the law of Ukraine.

In mid-June the Tax police of Kyiv jointly with the National police exposed the inter-regional criminal group, whose members unlawfully took possession of large sums of funds during a money laundering using bitcoin.

Earlier, the national Bank reported that it is not responsible for any risks and losses associated with the use of virtual currencies in payment transactions.

Virtual currency bitcoin is one of the most popular alternatives to traditional currencies, which is often called cryptocurrency or virtual currency. Bitcoin can be used for payment of goods or services from sellers willing to accept them. The currency does not have a single emission center. The issue of bitcoin is fully decentralized and can be done accidentally by any client system by using computers electronic equipment for maintenance of the system.