On September 3, 2025, the Verkhovna Rada of Ukraine adopted in the first reading draft law No. 10225-d on virtual assets. The document was voted for by 246 people's deputies, which was a key step towards the full legalization of the cryptocurrency market. This draft law, developed with the participation of the National Bank of Ukraine (NBU), the Ministry of Digital Transformation, and taking into account the recommendations of the International Monetary Fund (IMF), defines the legal status of crypto assets, the rules for their circulation, taxation, and regulation.

Cryptocurrency in Ukraine is not defined as a means of payment but receives the status of an investment instrument. The document classifies virtual assets into three categories: tokens tied to real assets (e.g., real estate), electronic money tokens (like USDT), and other cryptocurrencies ($BTC , $ETH ). The exchange of one cryptocurrency for another will not be taxed; taxes will only be paid upon conversion to fiat currency. The rate is 18% personal income tax (PIT) plus a 1.5% military tax on investment income (the difference between purchase and sale). For the first year of the law's operation, a preferential rate of 5% is provided to stimulate the market.

The regulator can be the NBU or the National Commission on Securities and the Stock Market (NCSMC), which sparks discussions. Companies like WhiteBIT or Kuna will be able to officially register, conduct KYC/AML, and integrate with banks. Legalization meets the requirements of FATF and MiCA of the EU, allowing Ukraine to avoid a 'gray' status in the global financial system. According to estimates from the Ministry of Digital Transformation, this will bring about 22 billion UAH to the budget annually, attract investments, and protect investors from fraud.

Amendments regarding the transitional period, financial monitoring, and the role of the regulator are expected for the second reading. The head of the VR Finance Committee, Danilo Hetmantsev, emphasized: 'There will be no privileges, but this will create a transparent market.' For crypto owners who cannot prove the costs of acquisition, tax will be paid on the full amount. The law may come into effect on January 1, 2026, stimulating innovations in DeFi and Web3.

This event underscores Ukraine's commitment to the digitalization of the economy amid war, making the country attractive to crypto investors.

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