Ukranian Minister of Finance, Oksan Makarova has announced that all companies whose activities are related to cryptocurrency either directly or otherwise will be checked by the financial monitoring bodies. She explained that any suspicious cryptocurrency transaction carried out by any organization will be blocked until clarified and also that the cryptocurrency companies must provide detailed information about clients’ identities as well as the source of the cryptocurrency.
The Minister further explained that since Ukraine has introduced cryptocurrencies into the law on financial monitoring, the country will soon make a decision to regulate the circulation of cryptocurrencies in compliance with international and European standards. The State Financial Monitoring has been tasked with the responsibility of controlling the circulation of cryptocurrencies in order to avoid the possibility of the spread of corruption, drug trafficking and money laundering.
