On August 13, the head of the NSSMC (National Securities and Stock Market Commission), Oleksii Semeniuk, stated that the regulation of the crypto market should protect users while preserving the benefits for businesses of operating legally within the country.
"The market exists, Ukrainians use it, businesses create products. The question is different: where is this business legally located, where does it pay taxes, and how protected is the Ukrainian user. This is what the legislation should address," he noted.
As an argument, Semeniuk cited data from last year's global cryptocurrency adoption index by Chainalysis, where Ukraine ranked eighth in the main rating and first after adjusting indicators for population size.
From July 2024 to June 2025, the volume of digital assets received in Ukraine was estimated by analysts at $206.3 billion. Over the year, the indicator grew by 52%.
In Semeniuk's opinion, legalization should allow Ukrainians to use the services of authorized providers, and companies to operate within the country under clear rules. This includes, among other things, buying, selling, and exchanging cryptocurrencies, as well as storage and staking.
"For a person, the result of the reform should be very concrete: they must understand who provides them with the service, whether that company is authorized, what rules it is obliged to follow, and where to turn in case their rights are violated," said the head of the NSSMC.
Another direction Semeniuk mentioned was the tokenization of real-world assets (RWA). According to him, distributed ledger technology will, in perspective, allow for the creation of new investment products and models for raising capital.
"The strategic goal is significantly broader than simply legalizing cryptocurrencies. We are talking about the possibility of combining virtual asset technologies with the traditional financial market. Tokenization, RWA, new investment products - this is already part of the global development of the financial system," he emphasized.
A separate issue remains the interaction of crypto companies with banks and payment infrastructure. Semeniuk noted that adopting a law will not solve this problem by itself, but without a legal status for the market, full-fledged cooperation is impossible.
The head of the NSSMC also called for finding a balance between protecting users and the competitiveness of the Ukrainian jurisdiction.
"Excessive leniency creates risks for people. Excessive regulation pushes business abroad. We need a market where one can work, invest, launch products legally — and simultaneously be protected," he concluded.
Recall that in September 2025, the Verkhovna Rada of Ukraine approved in the first reading the draft law No. 10225-d "On Virtual Asset Markets." The document is intended to define the status and taxation procedure for crypto assets in the country.
