The National Securities and Stock Market Commission of Ukraine (NSSMC) has outlined key directions for regulating cryptocurrencies in political campaign financing. This was shared by the agency's legal advisor, Vita Forsyuk, during an expert dialogue at International IDEA.
The event in Kyiv addressed transparency risks stemming from the "pseudonymous and cross-border nature" of digital assets. The NSSMC particularly focused on international experiences, including practices from Moldova and Romania.
Forsyuk presented approaches that will be included in the draft law on regulating the virtual assets market in Ukraine. Key decisions include:
- implementing the "Travel Rule" for identifying participants in crypto transactions;
- requiring virtual asset providers to report to tax authorities and adopting international standards like CARF;
- restricting access to the Ukrainian market for participants with Russian capital or connections.
“These approaches aim to enhance the transparency of operations and reduce the risks of opaque or foreign influence on political processes,” the regulator stated in a press release.
Following the meeting, the NSSMC plans to prepare analytical recommendations to strengthen transparency in political financing ahead of upcoming election cycles.
It is worth noting that on September 3, 2025, the Verkhovna Rada of Ukraine approved in the first reading the draft law "On Virtual Asset Markets," which will define the status and taxation of cryptocurrencies in the country. Since then, the document has been prepared for the second reading.