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Kinstellar Counsel Andriy Nikiforov speaks at a roundtable on cryptocurrencies organised by the Ukrainian Bar Association in Odessa

September 2018 – Andriy Nikiforov, Counsel and Head of Kinstellar’s Banking & Finance practice in Kyiv, spoke at a roundtable on cryptocurrencies organised by the Ukrainian Bar Association (UBA) on 31 August 2018. The event took place in Odessa — one of Ukraine’s major IT hubs — and was attended by private legal practitioners, in-house legal counsel and IT experts.

The focus of the roundtable was recent global trends in the regulation of cryptocurrencies, including investor protection, efforts to combat money laundering and terrorist financing, the regulation of cryptocurrency exchanges, and the taxation of cryptocurrency payments and mining.

Andriy Nikiforov, who also serves as Chair of the UBA’s Banking, Finance and Insurance Committee, spoke about the driving forces behind the use of cryptocurrency and its strengths compared to fiat money as a conventional means of exchange.

Participants also had the chance to share thoughts on two draft cryptocurrency laws currently under consideration in the Ukraine's Parliament: the Draft Law on the Circulation of Cryptocurrency in Ukraine (No. 7183) and the Draft Law on Supporting a Market for Cryptocurrencies and Their Derivatives in Ukraine (No. 7183-1).

The Ukrainian Bar Association is an all-Ukrainian public organisation founded in 2002. At present, the UBA has over six thousand members, including private legal practitioners, in-house legal counsel, notaries, judges, public officials, MPs and renowned legal scholars. There are currently 23 acting UBA committees tasked with the further development of the legal profession in Ukraine, improving legislation, building relationships with public authorities and contributing to public reforms.

For more information please contact Andriy Nikiforov, Counsel, at

e-mail

.