Ukraine has established a procedure for declaring cryptocurrency

The anti-group Ukrainian agency has published the correct mechanism for declaring cryptocurrencies. Now it is one of the types of "intangible assets". Cryptocurrency has been defined as a digital expression of value that can be transferred for the purpose of payment or investment. The declarant is obliged to find the section "Intangible assets" and indicate the cryptocurrencies in his power. It is necessary to indicate the cost in national currency at the current rate at the time of signing. The document must be completed and submitted at the place of residence by April 30. This should be done not only by the servants of the people, but also by unregistered entrepreneurs. Also, it is necessary to perform the procedure and self-employed persons.

The declaration procedure has been explained in detail only now, but the cryptocurrencies themselves have long been present in the documents of Ukrainian officials. Peoples Deputy Dmitry Golubov in 2016 estimated 4376 military-technical cooperation at UAH 125 million. The richest in the country was the deputy of the Odessa City Council Dmitry Palpatine. His fortune exceeds UAH 3.5 billion.

December saw the adoption of a law to counter money laundering and encourage terrorist activities. Measures have been taken against the financing of terrorism through virtual assets. The law comes into force in April 2020.