Verkhovna Rada has adopted the law on regulation of e-commerce, Internet sales and the use of electronic money in Ukraine. Representatives of the Ukrainian parliament and industry have been discussing such law projects for quite a while. Olha Belkova, who previously worked for startup accelerator EastLabs and now a member of Verkhovna Rada, has become an initiator of the current law. Now the terms such as “electronic transaction”, “Internet store”, “electronic message” and many others obtained their legal definition. The main purpose of the law is to fully equate electronic transactions to the ones executed in traditional ways.

According to a new law every electronic transaction should be supported by electronic receipts, which are regarded as their electronic confirmation. This receipt should include the data, such as name of the seller, the address, warranty obligations and the order in which any complaints about the product will be accepted. In such a manner electronic transactions are considered absolutely valid by governmental institutions, tax offices and courts. Moreover, online buyer’s rights will be envisaged in the consumers’ rights protection law.