Kiev, Ukraine: The Ukrainian People's Deputy, Alexei Mushak, said at the BlockchainUA conference that the bill on the classification of digital assets has already been transferred to the supreme legislative body of the country - the Verkhovna Rada. Mushak also reported that 23 People's Deputies from different factions signed the document.
The new document includes the term ‘virtual assets’, which, in turn, are divided into cryptocurrencies and token-assets.
Cryptocurrency is defined as a "virtual asset in the form of a token, which functions as a way of exchanging or preserving value". But the term ‘token-asset’ is determined as "a certificate of property or other rights of the owner of the token that meet the obligations of the token issuer."
Mushak expects the document will be approved by the end of this year.