**Ukraine Reforms Tracker: Weekly Digest (May 12-18, 2025)**
The Ukrainian parliament has been busy with various reforms and legislative changes over the past week. In this weekly digest, we’ll take a closer look at some of the key developments.
**Benchmarks and Soft Commitments with the IMF**
As part of its International Monetary Fund (IMF) agreement, Ukraine is required to make certain commitments. This week, the selection commission for the new director of the Bureau of Economic Security (BES) published a preliminary ranking of 16 candidates who will move on to the final interview stage. Interviews are scheduled for June 8-10, and the commission will submit its top two picks to the prime minister for formal appointment.
**Crypto Legalization Bill Blocked**
Ukraine’s draft law on virtual assets has been indefinitely postponed despite earlier plans to bring it to a vote in parliament in early May. This decision was reportedly made after National Securities and Stock Market Commission (NSSMC) Head Ruslan Mahomedov escalated his concerns to the Presidential Office, demanding revisions to expand the commission’s role as regulator and additional review by the Security Service of Ukraine.
While this legislation is not part of Ukraine’s binding reform benchmarks, the government had made a soft commitment in its IMF memorandum to update virtual asset legislation by end-October 2025. This development may have implications for Ukraine’s reputation as a friendly jurisdiction for blockchain and cryptocurrency businesses.
**Ukrainian Government Publishes Report of IMF-Linked NABU Audit**
The Ukrainian Cabinet of Ministers has published the final report of an external independent audit of the National Anti-Corruption Bureau (NABU), covering the period from March 2023 to November 2024. The audit assessed NABU’s performance as moderately effective and issued 26 recommendations relating to strategic planning, data usage, performance tracking, and institutional coordination.
This publication fulfills a key structural benchmark under Ukraine’s IMF memorandum, with the revised deadline extended to July 2025 during the Fund’s March review. The report highlights systemic issues affecting NABU’s operations and calls on parliament and other institutions to address these challenges.
**Obligations to the EU**
Under the Ukraine Facility program, Ukraine has obligations to reform certain areas, including financial stability and local government oversight. This week, the Financial Stability Council of the National Bank of Ukraine approved amendments to the Lending Development Strategy, aligning it with upcoming legislative reforms under the Ukraine Facility.
Additionally, parliament advanced a bill to establish a registry of local government decisions and expand oversight functions, which forms part of Ukraine’s legislative obligations under the Ukraine Facility program.
These developments demonstrate Ukraine’s efforts to meet its international commitments and implement necessary reforms. As we continue to monitor these reforms, we’ll keep you updated on any significant changes or progress made by the Ukrainian government.
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