Crypto Market Regulation in the EU: What You Need to Know Today
On February 12, 2025, a professional offline meetup took place in Kyiv, dedicated to the practical implementation of the MiCA Regulation and other EU regulatory requirements for the circulation of crypto assets. The event was organized by the International Advisers Association and Eduard Holodnytskyi, bringing together leading experts, legal professionals, consultants, and financial market representatives.
Over the course of 4 hours and 15 minutes, participants had the opportunity to delve deeply into the key aspects of the new crypto regulation in the European Union, including:
- token typology and requirements for issuers,
- the new regime for stablecoins and NFTs,
- requirements for CASPs (Crypto-Asset Service Providers),
- AML policy implementation for crypto providers,
- and tax regulation across EU countries.
Tetiana Dmytrenko, PhD in Economics and international AML consultant for the UNODC, emphasized the importance of introducing a risk-based approach to CASP operations, particularly through the adaptation of KYC policies, transaction monitoring procedures, and sanction compliance in line with FATF and EU standards.
Svitlana Rudyuk, WEB-3 and tax lawyer, outlined the requirements of the Transfer of Funds Regulation, which will come into force in December 2024. She highlighted the need for transparent financial reporting from all crypto service providers who intend to remain legally compliant within the EU.
Following a networking break, experts presented a comparative analysis of crypto taxation in the EU, with a focus on Lithuania, Estonia, Cyprus, Germany, and Portugal. Oleksandra Nikitina, Partner at ECOVIS Bondar & Bondar Law Bureau, drew attention to the tax challenges faced by crypto investors, including losses from bankrupt platforms such as FTX.
In the closing panel, experts including Vita Forsiuk (NSSMC of Ukraine), Tetiana Dmytrenko, Svitlana Rudyuk, and Oleksandra Nikitina discussed the prospects of adapting Draft Law 10225-d to MiCA requirements.
Concrete proposals were voiced for harmonizing Ukrainian legislation with the EU framework, particularly in terms of CASP licensing, AML reporting, and cross-border information exchange.
The event was moderated by Eduard Holodnytskyi, President of the IAA and CEO of Firm24, who expressed his gratitude to the partners—including friendo.cash—and the participants for their active discussions and joint efforts to implement European crypto standards in Ukraine.