• A group of G7 ambassadors has taken note of the National Bank of Ukraine’s comments on draft law No. 10225-d.
  • The statement emphasized the importance of financial stability, transparency, and the NBU’s independence.
  • In early November, a parliamentary committee backed the document, but the central bank did not approve its current version.

The G7 Ambassadors’ Support Group in Ukraine responded to the NBU’s position on draft law No. 10225-d on regulating the circulation of virtual assets. 

The G7 takes note of the NBU’s position on the draft law on virtual asset circulation. Preserving financial stability, transparency and the independence of the NBU remains critical to Ukraine’s economic resilience and the effectiveness of international support.

“The G7 takes note of the NBU’s position on the draft law on the circulation of virtual assets. Preserving financial stability, transparency, and the NBU’s independence remains critical to Ukraine’s economic resilience and the effectiveness of international support,” the statement said.

“The G7 takes note of the NBU’s position on the draft law on the circulation of virtual assets. Preserving financial stability, transparency, and the NBU’s independence remains critical to Ukraine’s economic resilience and the effectiveness of international support,” the statement said.

Disputes around the draft law 

In early November, the Verkhovna Rada of Ukraine’s Committee on Finance, Tax, and Customs Policy backed draft law No. 10225-d on regulating the virtual asset market. According to committee chair Yaroslav Zhelezniak, 20 members supported the document.

However, the National Bank of Ukraine did not support the draft law’s current version. The regulator said the proposed provisions create risks to financial stability and competition.

Among the NBU’s comments — the need to tighten oversight of foreign tokens and establish transparent rules for authorizing trading venue operators.

At the same time, the National Securities and Stock Market Commission supported the document and urged the Verkhovna Rada to pass it as soon as possible in the second reading.

The second-reading consideration of the draft law is scheduled for November. If adopted, the new rules are set to take effect on July 1, 2027.

Latest updates

On November 9, Yaroslav Zheleznyak noted that the document will not be considered during the current plenary week.

According to him, this is because after the committee hearings, the extensive 270-page text was sent to the Verkhovna Rada’s lawyers for a detailed review. Zheleznyak emphasized that the document’s volume creates many purely legal nuances, and the experts’ comments primarily concern legislative drafting technique rather than the substance of the decisions.

In addition, the lawmaker agreed with the comments received from the National Bank of Ukraine and confirmed that it makes sense to take them into account. Refining the text will take another week, after which the MP expects to put the bill forward for final approval as early as the next plenary week.