The NSSMC "will not compete" for the role of crypto market regulator in Ukraine

The National Securities and Stock Market Commission (NSSMC) has announced that it does not intend to compete for the position of cryptocurrency regulator after being excluded from the latest version of the draft law on virtual assets. In the new version, control over the market is planned to be distributed between the National Bank and another body, which will be determined by the government. The agency emphasized that it will focus on its core business and financial market development, avoiding competition for regulatory powers.

Source Incrypted

The Commission noted that it has repeatedly faced obstacles in its activities due to personal animosity of MPs, noting that political disputes often prevent the implementation of real solutions to improve the market. The NSSMC reported that it is working on new financial instruments, such as individual investment accounts, which will allow businesses and investors to make a profit and the state to generate additional revenue.

The ultimate role of the cryptocurrency regulator in Ukraine remains an open topic for discussion, as some bodies, such as the Ministry of Digital Transformation and the National Bank, have sought their own powers to regulate the industry. The current draft law on cryptocurrencies is being actively discussed in the society, and its adoption could significantly affect the further evolution of the market in Ukraine.