Ukraine Committee Advances Crypto Bill Despite Central Bank Objections

Ukraine’s Parliament moved a crypto bill toward a full vote after a committee endorsed it, while the central bank said it could not support the current text and asked lawmakers to revise its oversight rules.

Twenty members of the Verkhovna Rada’s Committee on Finance, Tax and Customs Policy backed a recommendation on Nov. 4 to return bill No. 10225-d to the chamber for a second reading and approval of the full measure. The National Bank of Ukraine (NBU) said the same day it could not support the bill in its present form. The move continues the dispute over the proposal described in the NBU’s earlier objections to the bill.

In the committee’s version, the National Securities and Stock Market Commission (NSSMC) would lead crypto-market regulation, while the NBU would oversee electronic-money tokens. The NBU wants authority to assess foreign tokens that can function as electronic money and restrict them if needed. It separately warned that some could lack oversight in the jurisdictions where they are issued.

The NBU also objected to leaving the number of licensed trading platforms to the NSSMC. It said the final text does not set a clear number of operators that may operate during the first five years. The bank had accepted an NSSMC proposal for an opening phase with three companies selected through competition.

The Verkhovna Rada passed the bill at first reading on Sept. 3, 2025. A plenary vote was planned for November. If enacted, the rules would take effect July 1, 2027.