The Ukrainian parliament plans to hold the first reading of the cryptocurrency regulation bill at the end of August. If passed, the bill will establish a legal framework for digital assets that meets European standards.
Danylo Hetmantsev, the chairman of the parliamentary committee on finance, taxation, and customs policy, stated that the tax law draft regarding virtual asset trading is in its final stages of preparation.
A key provision of the bill allows individuals to report and legalize acquired digital assets. According to the regulations, asset holders can legalize their assets by paying a 5% personal income tax and a 5% military tax.
The regulation history of the cryptocurrency industry in Ukraine has been quite tumultuous. In 2022, the country's parliament passed legislation to legalize cryptocurrency exchanges, but progress on cryptocurrency trading taxation has been slow.
By December 2024, the government announced a new legislative plan that treats cryptocurrency transactions as securities for tax purposes, especially when assets are converted to fiat currency.
In April 2025, Ukrainian financial regulators proposed a tax of up to 23% on certain cryptocurrency transactions, although this does not currently include trading between cryptocurrencies and stablecoin transactions.
Ukraine is advancing cryptocurrency tax and reserve legislation alongside other countries.
In another cryptocurrency initiative, legislators introduced a bill in June allowing the National Bank of Ukraine to include cryptocurrencies like Bitcoin (BTC) in its reserves.
If the legislation passes, Ukraine will become one of the few jurisdictions with a clear cryptocurrency reserve. Currently, Ukraine is the fourth-largest holder of Bitcoin in the world, with 46,351 BTC.
Cryptocurrency activity has significantly increased in Eastern Europe, with the region receiving $499 billion in cryptocurrency flows from July 2023 to June 2024.