Ukrainian authorities plan to recognize cryptocurrency as financial asset
Ukraine may soon recognize cryptocurrency as a financial asset. Ukraine parliament plans to adopt the legal framework in the next year, as reported by the Head of the National Securities and Stock Market Commission of Ukraine Timur Khomaev. The official referred to cryptocurrency as a financial tool, while noting that it cannot be regarded as a legal tender. “This is more like shares, bonds, promissory notes. We plan to give legitimate recognition to cryptocurrency as a financial asset and allow people to invest in it and use these financial tools.”
He said that Swiss, Maltese and Gibraltarian authorities adhere to the same “financial asset” definition. According to Khromaev, Kiev should create favorable conditions for developing the cryptocurrency market as well. Also, he considers it necessary to impose taxation on cryptocurrency and empower certain specialized institutions to regulate this sphere.
Messaging giant LINE launches $10M token venture fund
Japanese messaging giant LINE has launched a token venture fund with a capital commitment of $10 million via its recently established subsidiary called Unblock Ventures. The publicly traded firm said it aims to invest in blockchain startups in an effort to boost technological development.
LINE group said it expects to increase the total amount of the fund in the future based on the development of the blockchain industry. Today’s launch comes 1 month after it started operating its cryptocurrency trading platform, Bitbox. From LINE’s website “By launching this new corporate token fund, LINE is aiming to boost the development and adoption of cryptocurrencies and blockchain technology. As such, LINE is one of the first publicly traded corporations to formalize token investments through a corporate fund.”
Kraken Daily Market Report for 14.08.2018
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