Ukraine's parliament is set to conduct the first reading of a crypto regulation bill by late August, as confirmed by government officials. If passed, this legislation could create a legal framework for digital assets that aligns with European standards. Danylo Hetmantsev, head of the parliamentary finance committee, stated that the draft law on taxing virtual asset transactions is nearing completion, with a submission to the Verkhovna Rada expected by the end of August 2025. A significant aspect of the bill allows individuals to legalize previously acquired digital assets by paying a 5% personal income tax and a 5% military duty. Ukraine has experienced inconsistent regulatory approaches to crypto, having legalized exchanges in 2022 but facing slow progress on transaction taxation. Recent proposals include taxing crypto trading akin to securities and allowing the National Bank of Ukraine to hold cryptocurrencies like Bitcoin in its reserves. Ukraine currently ranks as the fourth-largest government holder of Bitcoin, with 46,351 BTC valued at $5.4 billion. Read more AI-generated news on: https://app.chaingpt.org/news

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