At Incrypted Conference 2025, Ukraine National Commission on Securities and Stock Market (NSSMC) Chair Ruslan Magomedov reiterated the regulator’s support for adopting an effective crypto-asset law and rejected claims that the NSSMC was responsible for the bill’s suspension. Magomedov stated that the NSSMC drafted and submitted a crypto-asset bill to the committee in September 2023 and that the 2025 draft is around 70% consistent with the NSSMC’s earlier proposal. He argued that the revised version submitted for consideration ahead of the first reading includes 30% “critical changes”, including insufficient guarantees of investor-rights protection, a risk of admitting dubious structures to the market, and a lack of provisions to support sector development. An audience poll reported that 61% supported regulating the sector in Ukraine and that 16% of crypto business representatives present trusted the NSSMC as the regulator. Magomedov said the NSSMC is ready to work on the text for the second reading, prioritising quality to achieve clear rules and minimise risks.
Ukraine National Commission on Securities and Stock Market 2025-06-16
Ukraine National Commission on Securities and Stock Market highlights investor-protection concerns in revised crypto-asset bill and prepares for second reading
At the Incrypted Conference 2025, Ukraine National Commission on Securities and Stock Market Chair Ruslan Magomedov emphasized support for an effective crypto-asset law and denied responsibility for the bill's suspension. He noted the 2025 draft aligns 70% with the NSSMC's 2023 proposal but includes critical changes affecting investor protection and market integrity. Magomedov expressed readiness to refine the bill for the second reading to ensure clear regulations and risk minimization.