The International Monetary Fund has advised Ukraine to finish updating its laws on virtual assets by late 2024 due to concerns about regulations and economic opportunities. According to a post on Facebook by Oleksandr Bornyakov, a deputy minister of digital transformation in Ukraine focusing on IT industry development, this requirement is included in the Memorandum of Economic and Financial Policies signed between the IMF and Ukraine. Concerns were raised about the lack of regulation in the sector, which could impact price stability and monetary transmission effectiveness. Bornyakov highlighted the potential economic benefits of legalizing the cryptocurrency sector and mentioned that the Ministry of Digital Transformation is stressing the need for state regulation in this area. He also mentioned two bills in Parliament related to crypto assets. Bornyakov stressed the importance of establishing rules for regulating and taxing virtual assets, noting that proper regulations could boost Ukraine's economy and increase trust among international partners.