Rada passes law on currency

18:53, 21.06.2018 1 min read

 The Verkhovna Rada on June 21 at second reading and as a whole adopted the law on currency at the third attempt.

According to an Interfax-Ukraine correspondent, 228 people's deputies voted for the adoption of the law with corrections (except for editing No. 261) with the quorum being 226 votes.

Some deputies demanded a re-vote, but it did not take place.

The law will allow accelerating currency liberalization and suggests a conceptually new approach to the system of currency regulation and supervision - "everything that is not directly prohibited is permitted."

The law is intended to become a single legislative act that determines the order of organization of currency regulation and implementation of currency supervision in the country. At present, the decree of the Cabinet of Ministers of Ukraine on the system of currency regulation and currency control dated 1993 is the main normative and legal act regulating the currency market.

Head of the National Bank Yakiv Smolii during the discussion of the bill in parliament said that the NBU would gradually remove currency restrictions.