The Ukrainian crypto community lives by the principle of 'it’s not allowed, but if you really want to, you can.' The state supposedly does not prohibit cryptocurrency, but is also in no rush to legalize it. It results in a classic situation: we have crypto, but officially it does not exist.

Business and crypto: love through bureaucratic hell

If you want to accept crypto as payment, congratulations – you officially enter the zone of 'blurred legislation.' On one hand, the Ministry of Digital Transformation has long promised to create rules for businesses, on the other hand, the tax office looks at you like a hunter at a fat boar. Of course, you can work through a sole proprietorship + PayPal + USDT, but in case of an inspection, you will have to explain why the money came from the 'Left Bank' (spoiler: it's not a district of Kyiv).

Taxes: to pay or not to pay – that is the question

The draft law on cryptocurrency taxation has been circulating among officials for about 5 years. Formally, you are supposed to pay 18% personal income tax + 5% military tax on crypto income. But for now, no one knows how to do this without losing their mind. Some calmly withdraw through P2P, others open a sole proprietorship and work officially. The main thing is not to show large amounts to the bank, as they will quickly find 1001 reasons to block your account.

Regulation: will Ukraine become a crypto hub?

In fact, it's not that bad. Ukraine ranks among the top countries in the world for the level of cryptocurrency adoption, and the NBU and Ministry of Digital Transformation want to legalize stablecoins, DeFi, and even DAOs. Ideally, this will allow launching official crypto companies, working without fear of blockages, and attracting investors. In reality, however, we might end up with a new tax and yet another regulatory body.

Conclusion: crypto in Ukraine is alive, but under the blanket

The situation is simple: you can use it, but it’s better not to make noise. Those who know how to bypass bank restrictions work calmly through P2P, Binance, crypto cards, and USDT. But those who want to legalize everything officially will have to wait for the laws to catch up with reality.

And for now – we enjoy crypto freedom until it is finally 'regulated'! 🚀

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