Ukraine's National Securities and Stock Market Commission reviews investment bills and USD 50 million corporate bond registration

Ukraine's National Securities and Stock Market Commission published a weekly update highlighting parliamentary committee support for virtual asset and investment fund legislation, alongside registration of a USD 50 million corporate bond issue. The committee recommended final parliamentary passage of virtual asset bill No. 10225-d, which would establish regulatory powers, participant requirements and investor protections. The proposal follows the European Union's Markets in Crypto-Assets Regulation model. It also recommended initial approval of investment funds bill No. 16137, which would introduce European rules for public and alternative funds and support investment in real estate, startups and infrastructure. Both proposals still require parliamentary approval. The registered Kernel-Trade issue is the Ukrainian market's first public foreign currency corporate bond offering of this size. Placement is planned on the PFTS exchange, with quarterly interest payments and redemption in November 2029. Proceeds will finance agricultural procurement, oilseed processing and related trading, export and logistics operations, providing another route for businesses to obtain foreign currency financing domestically. The Commission is also working with EU4Reconstruction to prepare municipal bond issues in 2027 for critical infrastructure. Electronic filing and multiple issues under one base prospectus are already available. Remaining procedural barriers are to be addressed with municipalities, the Ministry of Finance and international partners. Separately, candidates for management and control functions at professional market participants can now submit documents, take tests and obtain results online using qualified electronic signatures. Management candidates must also undergo an interview.