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The Ukrainian president has delayed further crypto legalization

The Ukrainian president Vladimir Zelensky has returned to the Rada the draft Bill “about digital assets, #3637, forcing to finalize it. According to the law project, there has to establish an independent regulatory authority aimed to control digital assets, taxation system, protection of user rights and other aspects. The president says the whole structure needs to be changed, and National Securities and Stock Market Commission (NSSMC) should run the control processes. At the same time, building an entire new supervisory authority would create huge costs.

IMF posted a situation among digital assets of Central Banks

During the online conference, supported by Bocconi University, Kristalina Georgieva, Managing Director IMF, replied about stablecoins and CBDC (central bank digital currencies). It appeared that as of October 2021, 110 countries - more than half of the world - are working on launching their digital currency. The Russian Federations is also on its way for crypto rubble. Such stablecoins as USDT could be useful as financial tools on digital markets, but CBDC would guarantee even more security, Georgieva says. So far, CBDC has been fully launched only in the Bahamas. In other countries, such assets are only being tested. For example, China has been conducting tests for over two years, and there is no final decision upon it.

Gary Gensler: “SEC will not prohibit cryptocurrency”

Gary Gensler, a chairman of the Commodity Futures Trading Commission (SEC), touched upon the crypto industry during his speech to the financial service committee. The report also was about the measures taken by China against cryptocurrencies, and the main question was asked if the SEC is going to follow the same path. With his answer, Gensler assured that the United States has an entirely different approach to that problem. There is no talk of a complete ban on cryptocurrencies (although the final decision lies with Congress, one of the three highest government bodies). At the same time, the chairman noted that many cryptocurrencies look like investment contracts or other securities, which means it requires appropriate regulation.