Legal Aspects of Virtual Assets Regulation in Ukraine

Abstract Virtual assets are a concept that has made its way into the modern financial and legal lexicon in recent years. Markets are formed around them, transactions are conducted with them, they are the object of increased interest in the field of investment activities. The need for legal regulation of new types of social relations transiting to the virtual plane stimulates lawmakers to take active measures concerning the formation of a legislative basis in this area. This study intends to consider the challenges facing the Ukrainian legislator in the light of the adoption of this law based on existing foreign practices. The study suggests that such obstacles now include not only terminological differences, but also issues of legal qualification of illegal actions with cryptoassets, issues of theoretical and legal understanding of the new legal relations.