virtual assets

Ukrainian law “On virtual assets”

The law provides for a comprehensive regulation of legal relations arising in connection with the circulation of virtual assets in Ukraine, defines the rights and obligations of participants in the market of virtual assets, the principles of state policy in the field of virtual assets.

The law defines the concept of “virtual asset”, according to which a “virtual asset” is an intangible asset that is the object of civil rights, has value and is expressed in a set of data in electronic form. The existence and turnover of a virtual asset is ensured by the system of ensuring the turnover of virtual assets. A virtual asset can certify property rights, including claims to other objects of civil rights.