Ukraine cyberpolice to promote cryptocurency legalization

The Cyberpolice Department of Ukraine’s National Police believes cryptocurrencies should be legalized in Ukraine.

Legalization will facilitate efforts by law enforcers to tackle crimes through monitoring crime-related electronic transactions, deputy head of Cyberpolice Oleksandr Hrynchak told Radio Liberty.

"As for the crypto currency, we have developed a number of proposals, brought this issue to the government level and now want to legalize cryptocurrencies to gain control. Many crimes are committed with the help of these currencies: drugs and weapons sales, etc.," Hrynchak said.

Read alsoCrypto turmoil: Police raid Kyiv plant, seize 400 mining farms"Very often people report that their cryptocurrency was stolen. There are fraudulent schemes where owners of e-wallets [unknowingly] provide fraudsters access to their accounts, and the latter transfer tens of thousands of dollars to another e-wallet,” the official explained.

Today, the National Bank, the National Commission on Securities and the Stock Market and the National Commission for Regulation of Financial Services Markets do not recognize cryptocurrencies as means of payment. The issue is not regulated at the legislative level.

As UNIAN reported earlier, Cyberpolice chief Serhiy Demediuk stated that in case if the government fails in the near future to regulate the status of cryptocurrencies, their turnover should officially be banned. At the same time, he added that Cyberpolice was ready for cooperation on the issue of legalization and regulation of cryptocurrency technologies in Ukraine.