The National Securities and Stock Market Commission of Ukraine (NSSMC) outlined the main directions for regulating cryptocurrencies in political campaign financing. This was announced by the commission’s legal advisor, Vita Forsyuk, during an expert dialogue at International IDEA.
At the event in Kyiv, the risks to transparency due to the “pseudonymous and cross-border nature” of digital assets were discussed. The NSSMC paid special attention to international experience, including practices from Moldova and Romania.
Forsyuk presented approaches to be included in the draft law on regulating Ukraine’s virtual asset market. Key measures include:
- implementing the “Travel Rule” for identifying participants in crypto transactions;
- requiring virtual asset providers to report to tax authorities and implementing international standards such as the CARF;
- restricting market access in Ukraine for participants with Russian capital or connections.
“These approaches are aimed at enhancing the transparency of operations and reducing the risks of opaque or foreign influence on political processes,” stated the regulator’s press release.
Following the meeting, the NSSMC planned to prepare analytical recommendations to enhance the transparency of political financing ahead of election cycles.
Back in September 3, 2025, the Verkhovna Rada of Ukraine approved in the first reading the draft law “On Virtual Assets Markets,” which will define the status and taxation of cryptocurrencies in the country. Since then, the document has been prepared for a second session.
