Ukraine plans to evaluate the draft law regulating the cryptocurrency market by the end of August 2025, aiming to create a legal framework consistent with European Union (EU) standards.
This bill aims to provide legal protection for investors, exchanges, and cryptocurrency businesses, while establishing clear tax regulations to enhance transparency and integrate digital technology into the traditional economy.
MAIN CONTENT
Ukraine is preparing to present the cryptocurrency regulation bill according to EU standards in August 2025
The bill focuses on establishing a 10% tax regime for cryptocurrency assets, including personal income tax and defense tax
The legal framework will comply with FATF guidelines, avoiding the recognition of cryptocurrency as legal tender
How is Ukraine planning to regulate cryptocurrency in August 2025?
The draft law of Ukraine will ensure legal rights for cryptocurrency owners, exchanges, and businesses in this sector, while applying a clear and transparent tax regime.
The Chairman of the Finance, Tax, and Customs Policy Committee, Mr. Danylo Hetmantsev, confirmed that the bill on the taxation of digital assets is in the final stages of completion and is expected to be presented for the first time in the Ukrainian Parliament by the end of August 2025. This bill includes a total tax rate of 10% on cryptocurrency assets, comprising 5% personal income tax and 5% military tax.
"The preparation of the draft law on taxing transactions with digital assets is currently in the final stages and is expected to be presented for the first time in Parliament by the end of August 2025."
Danylo Hetmantsev, Chairman of the Ukrainian Parliament's Finance Committee, 2024
How does the cryptocurrency regulation bill enhance transparency?
Through tax policy, Ukraine aims to increase transparency in the cryptocurrency market, thereby bringing digital assets into the traditional economy while enhancing oversight of trading and ownership activities.
The Ukrainian government emphasizes that over time, cryptocurrency wallets and transactions will be more closely monitored for tax compliance. A clear legal framework will limit the risk of fraud and illegal activities in the cryptocurrency sector.
"We must legally protect the market, safeguard the rights of owners, traders, and exchanges. The state needs to recognize and ensure those rights."
Danylo Hetmantsev, Chairman of the Ukrainian Parliament's Finance Committee, 2024
Why did Ukraine choose to apply cryptocurrency regulations according to international standards?
The draft law of Ukraine is built on EU standards and guidelines from the Financial Action Task Force (FATF), aiming to ensure tight regulation of cryptocurrency without considering it as legal tender.
The National Bank of Ukraine (NBU) also affirmed that the legalization of digital assets should not undermine the effectiveness of financial oversight and must comply with international regulations. Additionally, Ukraine is taking steps to potentially include digital assets in national reserves, affirming openness to the global trend of digital assets.
Andriy Pyshnyy, NBU Governor, previously stated:
"The legalization of digital assets is not intended to weaken the effectiveness of financial oversight. The law must enforce FATF standards and appropriate European regulations."
Andriy Pyshnyy, Governor of the National Bank of Ukraine, 2024
Frequently Asked Questions
What tax rate will Ukraine apply to cryptocurrency?
Ukraine imposes a total tax of 10% on cryptocurrency assets, including 5% personal income tax and 5% military tax, helping to enhance transparency of income from cryptocurrencies.
Does the new law recognize cryptocurrency as legal tender?
No, the law clearly does not consider cryptocurrency as legal tender but instead regulates it as digital assets according to international standards.
Who is responsible for drafting the cryptocurrency bill in Ukraine?
The Finance, Tax, and Customs Policy Committee of the Ukrainian Parliament is leading the drafting, with the participation of financial and legal experts.
What is the goal of enhancing transparency in cryptocurrency transactions?
To minimize the risk of fraud and illegal activities, while integrating cryptocurrencies further into the formal economy.
Does Ukraine plan to include digital assets in national reserves?
Yes, the NBU is considering the possibility of including cryptocurrency and digital assets in reserve assets to diversify national resources.
Source: https://tintucbitcoin.com/ukraine-danh-thue-10-tien-so/
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