Europe and Asia | The Legality of Cryptocurrency To Be More Clearly Defined


The National Bank Of Ukraine announced its intention to more clearly define the legality of bitcoin in a soon coming meeting between the regions financial leaders.  The Comments by NBU Governor Oleg Churiy on Bitcoin gave the public a hint at what to expect. The statement reads:

“…There is a lack of global consensus on the definition of Bitcoin. It is defined differently in different countries, where it is treated as a virtual currency, monetary substitute, intangible value,  virtual commodity, etc. In its turn, the National Bank of Ukraine does support any of these definitions.

To work out a joint position on the legal status of Bitcoin and its regulation, the NBU has engaged in a dialogue with the Ministry of Finance of Ukraine, the State Fiscal Service, the State Financial Monitoring Service, The National Securities and Stock Market Commission and the National Commission for the State Regulation of Financial Services Markets. This issue will be addressed at the next meeting of the Financial Stability Council , which has been scheduled for late August 2017.”  

CIS Region and Post Soviet States

To further highlight the newfound romance between blockchain tech and ‘Eurasia’  The Astana International Financial Center announced the inception of a working group comprised of technology pros from Deloitte, Waves, Juscutum, and Kesarev Consulting with the goal to enable development and use of blockchain for the entire CIS region.

In their announcement, The Astana International Financial Centre (AFIC) shared this quotation by the Waves Founder and CEO, Sasha Ivanov:

“We are glad that the AIFC is trying to create the most favourable conditions for the development of blockchain technologies. To achieve this goal, concrete steps have already been taken, one of which was the creation of a working group. We are sure that the outcomes of this group, which includes the Waves Platform, will attract new investors to Kazakhstan and will help the country to be a new destination in the field of blockchain”

Northern Hemisphere and Eastern Hemisphere

The AIFC is a multinational financial hub, which covers most of the civilized parts of the Northern Hemisphere and the Eastern Hemisphere. As we move forward, Blockchain technology continues to prove its relevance globally in all data and transaction based industries.