Ukraine's central bank will not back a crypto market bill that a parliamentary finance committee recommended for a final vote. In a November 4 statement, the National Bank of Ukraine said the draft, Law No. 10225-d, omits compromises reached during drafting and says it obtained the last version only the night before the committee session. The bank called the process insufficiently transparent. Deputy Governor Oleksii Shaban raised objections at the meeting. Its core concerns are foreign tokens that act as electronic money without matching oversight abroad, which could threaten monetary sovereignty, and licensing of trading-platform operators, where it cites monopoly and corruption risks. A final vote is expected in November.
Why it matters: Ukraine's legislative path for crypto rules now depends on whether lawmakers address the central bank's objections on foreign tokens and licensing, shaping how the market is supervised.
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