Aleksei Semeniuk, head of NKCBFR, spoke to Incrypted about planned rules for Ukraine’s crypto market and regulatory responsibilities.

Scope of regulation and institutional roles

Semeniuk outlined which agencies may participate and how responsibilities could be divided between state bodies and sector participants during implementation.

The conversation covered practical steps to allocate oversight functions, define market actors and establish compliance mechanisms under the future legal framework.

Status of the draft law and taxation

The interview addressed the current state of the draft law, expected timelines and specific tax arrangements that will affect individual users and service providers.

Semeniuk noted that taxation rules are a central element, and that authorities are coordinating approaches to avoid double regulation or contradictory requirements.

Consequences for crypto exchanges after market legalization

Discussion included licensing procedures, reporting obligations and consumer-protection measures that crypto exchanges should prepare to meet after legalization.

Semeniuk described a transition where market participants will need to adapt operational practices to meet new licensing and anti-money-laundering standards.

Role of the commission and next steps

The head of NKCBFR commented on the commission’s readiness to assume broader regulatory functions and on planned consultations with industry stakeholders.

Incrypted conducted the interview; further public discussions with representatives of the commission and market participants are planned to clarify the forthcoming regulatory package.