Working with e-money and cryptocurrency companies are now subject to financial monitoring

Работающие с э-деньгами и криптовалютами компании теперь подпадают под финмониторинг

New changes associated with the adoption of the updated draft on financial monitoring

In the list of entities of initial financial monitoring will be added to the companies providing exchange services, storage, realization and transfer of electronic money. In particular, this category includes companies involved with cryptocurrencies, said the Minister of Finance of Ukraine Oksana Markarova.

The politician said that under the primary financial monitoring are also subject to the lottery and gambling business (bookmakers, casinos, etc) in the adoption rates and the return of winnings to the customers, with the threshold to 30 thousand UAH. We will remind, earlier Prosecutor’s office of Kyiv has closed betting company Favorit Sport, citing a violation of the institution of the law “About a gaming ban in Ukraine”.

Regarding the legalization of cryptocurrency in Ukraine, Markarova said that at the Committee of digital transformation lie established an interdepartmental working group which within the next four months will develop a special law on the regulation of virtual currency in Ukraine.

New changes associated with the adoption of the updated draft on financial monitoring, which, according to Markarova, developed a couple of years. Bill wanted to take more in 2018, however this has only occurred 6 Dec 2019, as the Parliament of the previous convocation was not supported. The President signed the draft law in late December, and now it will come into force on 28 April 2020.


Earlier it was reported that a new consortium, the WEF will develop the regulation of digital currencies. The Alliance of the world economic forum included technology companies, financial institutions, governments, technical experts and representatives of international organizations.