The National Securities Market Commission of Ukraine and BaFin signed a Memorandum of Mutual Assistance and Information Exchange. German colleagues support Ukraine in various areas, noted Commission Chairman Ruslan Magomedov.
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“Today’s Memorandum is another step towards the development of the Ukrainian capital market and its regulator, because we have received a strong and professional partner. I am confident in the effective results of our joint work on the economic future of the Ukrainian people,” said Magomedov.
We would like to remind you that the National Securities and Stock Market Commission is the main regulator of the Ukrainian crypto market under the law “On Virtual Assets.”
According to Commissions and partners plan to cooperate in the following areas:
- financial reporting; non-state pension funds; alternative funds; supervision of virtual assets; fraud prevention; construction financing; investment funds in the construction sector.
As reported by the National Securities Market Commission, BaFin supervises banks, payment institutions, insurance companies, pension funds and other financial organizations. In addition, the agency's work is aimed at ensuring transparent and fair conditions in markets and collective consumer protection.
Another part of BaFin's mandate is to prevent the financial system from being used to finance terrorism or money laundering.