Ukraine National Commission on Securities and Stock Market holds second study visit with Germany's Federal Financial Supervisory Authority on electronic securities and distributed ledger technology

The Ukraine National Commission on Securities and Stock Market published an update on its delegation’s second study visit to Germany's Federal Financial Supervisory Authority (BaFin), held from April 2 to April 8, 2025. The visit continued the inter-institutional dialogue launched in 2024 to exchange experience on modern regulatory challenges, technological innovation and supervisory best practices. This year’s discussions focused on electronic securities in the context of developing and implementing digital financial infrastructure, including potential uses of distributed ledger technologies in the issuance, storage and circulation of securities. Commission member Arsen Ilyin framed the cooperation as a two-way exchange, combining Germany’s mature market structure with Ukraine’s faster adoption of innovative technologies, and linking this to strengthening capacity to counter financial abuse and support a stable, transparent investor environment. The Commission also connected this cooperation to its ongoing harmonisation with International Organization of Securities Commissions principles following the entry into force of Law No. 3585-IX, noting that it has begun the process of joining the IOSCO Multilateral Memorandum of Understanding, which it expects to broaden cooperation opportunities including with BaFin.