Ukraine needs to reduce the state's stake in banks and also legitimize the cryptocurrency – Serhiy Rybalka

Banking assets belonging to the state, need to sell, this requires a development strategy of state-owned banks, as the share of the state in this sector increased from 8% in 2015 to 60% in 2018, said MP from the Radical party, the former head of the parliamentary Committee on financial policy and banking Serhii Rybalka on air of TV program "Wild goldfish" on the channel NewsOne.

"I do not know who among us is more important for the banking system head of the national Bank or the Minister of Finance, which subordinated all state-owned banks. Need a strategy what to do with these banks which should develop and which to sell," – said the MP.

He said that three weeks ago the Finance Ministry submittedthe strategy for the development of state-owned banks at the meeting of the Finance Committee of Parliament, but MPs had questions to this document.

"For example, "PrivatBank", which plans to clear bad loans, to develop and then sell. The Minister said that the Bank will make "candy". I have a question – why then sell the Bank, if it so good? It may be better another Bank to sell, which is more complicated to state than the one that will work profitably? Need a strategy and you need to reduce the share of state-owned banks, 60% in the system is too many", – the Fishing.

The new head of the NBU Jacob Smoliy for efficient operation not only must assemble a new team, but also to develop the strategy, said the politician.

"Yakov Smoliy supported by our Committee, amendments to the law "On the national Bank of Ukraine" and supported the creation of export Credit agencies. But I have doubts – who the new head will work, will there be a new team? We have a draft law "On national Bank", where we propose to increase the role of the Supervisory Board. We offer to increase its influence on the policy of the NBU," – said the MP.

He believes that the national Bank together with the Cabinet should encourage lending to businesses and to attract budget funds to compensate for reduced interest rates, as well as to regulate the cryptocurrency market.

"In the world there is no single recipe for how to regulate the cryptocurrency market. Prohibits someone who'll let me, but we have two bills already there, we decided to make one quality and held many roundtables with market participants and experts. My opinion: people (buyers and sellers) must be identified. One of the important points of the bill: when the transaction of sale and purchase of cryptocurrency party transactions signed by an electronic questionnaire, which confirms that voluntarily performs high risk transaction understands that the state does not bear any responsibility for it. Then the project separately regulate mining of cryptocurrencies. I believe that the SBU and Prosecutor's office under false causes nightmares this activity. The miners will be taxed. The amount of tax – in the process of discussion. We need to pass a law that not only take place in the Committee, but that it was adopted in Parliament," said Serhiy Rybalka.

According to a government decision of December 18, 2016, the state of 100% became the owner of "PrivatBank". NBU in July 2017 has published a report financial audit of "PrivatBank", conducted by Ernst&Young according to which on the eve of the nationalization of the Bank was a financial pyramid.

After that, the ex-Bank owners, as well as associated offshore and individuals have begun to file dozens of lawsuits in the Ukrainian courts in which to appeal against the procedure of nationalization and demand compensation for related financial losses. On 16 January, the NBU stated that according to the investigation company Kroll, before the nationalization of "PrivatBank" has been the object of large-scale fraud which led to losses of at least $5.5 billion.

Direct fiscal costs for the recapitalization of "PrivatBank" has reached 7% of GDP, said the former head of the NBU Valeria Gontareva, when reported to the Parliament on the results of their work before retirement and the transfer of the post Yakov Smoliy.



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