Ukrainian startup BlockchainLab collects signatures in support of the regulation of cryptocurrencies

Managing partner BlockchainLab Stanislav podyachev calls to establish a working group to develop rules to regulate the cryptocurrency market in Ukraine. Comments and suggestions he gave in the petition for on the platform Change.org that at the time of publication was signed by 76 people.

According to Podyacheva, the heads of state of developed countries are considering the regulation of cryptocurrencies and their functioning, in contrast to Ukraine, the legislation which contains certain rules and concepts for the regulation of legal relations arising during the use of these innovative tools.

«The uncertainty of the legal status and the lack of rules for the treatment of crypto-currencies and the use of the blockchain in Ukraine hampers the development of innovative technologies, prevents the attraction of investments and is the cause of the emigration of professionals and companies in countries whose governments support the use and development of the innovation,» he says.

Podjyachev stresses that despite the legislative framework of Ukraine, which guarantees every citizen the right to engage in entrepreneurial activity not prohibited by law, some commercial banks diskriminerad citizens and companies that are active in the field of cryptocurrency and blockchain technologies, while continuing the maintenance of their accounts and blocking of funds.

«Taking into account active growth of interest of citizens and businesses to mining and investment in blockchain projects with the aim of creating competitive conditions for the development of this sector of economy and attraction of investments in Ukraine, creation of new workplaces and increase budget revenues, prevention of outflow of intellectual capital, market participants should agree on and propose for the consideration of the public and the government their vision of policy towards cryptocurrency and blockchain» he said.

The activist proposes to legislate the terms «blockchain», «bitcoin», «mining», «token», «smart-contract» and «crypto currency exchange»; establish a zero VAT rate on transactions for the sale of cryptocurrency for 10 years and exempt from income tax companies operating in the cryptocurrency sector; adoption of a moratorium on additional regulations and restrictions in the sphere of cryptocurrency and blockchain use for 10 years; to establish an electronic public register of intangible digital assets (crypto and tokens) with their specifications, as well as to develop and implement a multidisciplinary training program.

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