Juscutum acted as a legal advisor to the international cryptocurrency exchange Binance in cases of business structuring in Ukraine, preparing for the implementation of the requirements of the Law of Ukraine "On Virtual Assets," and on the implementation of the crypto payment card project.
The issue of regulating the virtual assets market has been brewing in Ukraine for quite some time, as Ukraine is one of the world leaders in using crypto assets and overall public awareness related to the circulation of virtual assets.
Juscutum's team of lawyers developed the structure of Binance's business activities and its separate areas within the framework of Ukrainian legislation. Our lawyers provided recommendations on the implementation of the requirements of Ukrainian legislation in the area of circulation of cryptocurrency (virtual assets), and residence in Diіa.City and provision of activities on the financial market. In particular, several consultations and recommendations were provided regarding the implementation of a project to issue cryptocurrency payment cards in Ukraine.
It should be noted that although the Law of Ukraine, "On Virtual Assets," has not yet entered into force, most of the major players in the market have already started preparing to implement its requirements, which are set for service providers. Also awaiting consideration is a draft law on amendments to the Tax Code of Ukraine regarding the taxation of operations with virtual assets. However, even with the changes in the draft law, the main requirements of the Law of Ukraine, "On Virtual Assets," will remain in the current version. And this means that developing a strategy today will enable crypto exchanges to be among the first to enter the Ukrainian crypto market during its launch.
The case was accompanied by Dmytro Paliushchenko, Head of the Business Law at Juscutum, Arsen Petrosov, Senior associate of the Business Law at Juscutum and Peter Bilyk, Head of the Technology and Investment at Juscutum.
The case was accompanied by Dmytro Paliushchenko, Head of the Business Law at Juscutum, Arsen Petrosov, Senior associate of the Business Law at Juscutum and Peter Bilyk, Head of the Technology and Investment at Juscutum.