Digital transformation ministry to introduce virtual assets financial monitoring in Ukraine

Ukraine's Digital Transformation Ministry says it is working on the introduction of financial monitoring of virtual assets, which will be required if the Verkhovna Rada, Ukraine's parliament, legalizes such assets.

"We are preparing to implement financial monitoring of virtual assets, to verify the origin of transactions. To this end, we cooperate with Crystal Blockchain B.V., one of the world's leading manufacturers of software for tracking virtual assets transactions," the ministry's press service said on Telegram on July 23.

The ministry's specialists are set to undergo relevant training, the report said.

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As UNIAN reported, on July 11, the Verkhovna Rada, Ukraine's parliament, registered a bill on virtual assets, which proposes the legalization of such assets and the creation of regulatory conditions for a market of such assets, for example, cryptocurrencies.

Legalization of virtual assets and introduction of electronic tax residency in Ukraine are one of the government's priorities.