In a conference intervention, the Chairman of the Ukraine National Commission on Securities and Stock Market (NSSMC), Ruslan Magomedov, linked the adoption of Ukraine’s virtual assets law, incorporating the Commission’s proposals, to clearer market rules and stronger investor protection, and outlined the direction of travel for future licensing of the crypto sector. He highlighted the NSSMC’s experience in identifying fraudulent investment projects and pointed to the Commission’s public list of SCAM projects as an established tool used by Ukrainian and international audiences to help avoid dubious investments. On authorization of crypto exchanges and other market participants, he indicated that the licensing format remains under discussion because the draft law still needs to be finalized, and that the eventual approach will depend on the regulatory model selected by the state, including which body is designated as the regulator. Magomedov argued for a “balanced approach” combining harmonization with European standards with sufficient market flexibility, positioning the NSSMC as a potential compromise option across stakeholder positions to support the launch of Ukraine’s virtual asset market.
Ukraine National Commission on Securities and Stock Market 2025-06-16
Ukraine National Commission on Securities and Stock Market discusses virtual asset law proposals and the future licensing format for crypto market players
Ukraine's Securities and Stock Market Chairman, Ruslan Magomedov, stressed adopting the virtual assets law for clearer rules and stronger investor protection. He discussed identifying fraudulent projects and ongoing crypto exchange licensing deliberations, emphasizing a balanced approach harmonizing European standards with market flexibility.