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Cyber-police demands to determine status of crypto currency in Ukraine

Source : 112 Ukraine

So far, Bitcoin and other crypto-currencies have been used by cyber-criminals to "anonymize" their criminal actions
08:06, 30 January 2018

Open source


Head of the Cyber Police Department of the National Police of Ukraine Serhiy Demedyuk said that in case of unsettled status of the crypto currency in Ukraine, the state should officially prohibit its turnover. This is stated in the message on the department's website.

"Today, there is a need to regulate at the legislative level issues related to the use of crypto currencies as soon as possible, as well as the introduction of the necessary taxation of transactions on buying or selling crypto currencies. In the event that it is impossible to regulate the status of the crypto-currency in Ukraine soon, the country must officially prohibit its circulation. So that everyone knows that when one buys or sells a crypto currency in the territory of Ukraine, he bears the risk of losing his financial investments irrevocably, without the right to reimburse of losses, " Demedyuk says.

Related: European Parliament urges to impose anti-Russian sanctions due to cyber attacks

It is specified that, since the circulation of crypto-currencies and their status in Ukraine are not defined, the cybercriminals actively use them to anonymize their criminal actions.

At the same time, citizens become victims of fraudsters during operations with crypto-currency more often, not having full protection of law enforcement bodies.

Related: CIA concludes that Russia was behind cyber attack NotPetya in Ukraine, - media

The head of the Cyber Police added that all operations with the crypto currency in Ukraine should be done with mandatory identification of the owner of the crypto-currency wallet. This need is due to the fact that the main problem of law enforcement officers in the world is the confirmation of person’s property rights on this wallet and consequently - recognition of him as a victim.

Demedyuk also said that for the legalization and settlement of crypto-currency technologies in Ukraine, the Cyber Police is ready to cooperate with all interested departments and organizations.

As it was reported earlier head of the Security Service of Ukraine (SBU) Vasyl Grytsak informed about the opening of a situational centre of ensuring cybersecurity. The system of detecting and countering cyber incidents and laboratory of computer forensics are the key capabilities of the SBU-based centre. They will allow preventing cyber attacks, establishing their origin, analyzing them for countering.

The SBU received the equipment of the centre in the framework of implementing the first stage of the agreement on fulfilling the trust fund Ukraine - NATO on cybersecurity.

Related: Russian hackers can prepare large-scale cyber-attack on Ukraine's power grid

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