#CryptoRegulation

🇺🇦 Ukraine

example of cryptocurrency regulation

📜 Law “On Virtual Assets”

• Adopted by the Verkhovna Rada on February 17, 2022.

• Regulates the use of cryptocurrencies as virtual assets, but not as a means of payment.

• Defines rules for:

• cryptocurrency exchanges and service providers,

• investors,

• accounting for virtual assets.

🏛️ Who regulates:

• The Ministry of Digital Transformation is responsible for policy in the field.

• The National Bank of Ukraine and the National Securities and Stock Market Commission can be regulators depending on the type of asset.

📌 Key provisions:

• Cryptocurrency is not a legal means of payment.

• Companies must obtain licenses to provide cryptocurrency circulation services.

• Owners must be identified (KYC).

💸 Taxes (as of 2024):

• The law on the taxation of cryptocurrencies has not yet been adopted.

• A 5% tax on profit from operations with virtual assets is proposed (for individuals).

• Legal entities — 18% (like ordinary profit).

⚠️ Current status (2025):

• The law has been adopted but is not fully implemented due to the lack of amendments to the Tax Code.

• The regulatory infrastructure is still in the process of implementation.