In Ukraine, cryptocurrency operates on the principle of 'everything that is not prohibited is allowed', but the question of 'what is actually allowed?' remains open, like the infamous FTX case.
💼 The state and crypto: friendship or 'scheme'?
On one hand, officials report progress in regulation, promising European standards (yeah, like roads and salaries). On the other hand, the National Bank continues to roll its eyes at the mention of 'Bitcoin', and banks are increasingly banning accounts for 'suspicious' crypto transactions.
📜 What's going on with the law?
The law on 'Virtual Assets' has existed on paper for a year now, but without changes in the tax code, it is dead, like a shitcoin in 2018. They supposedly plan to legalize the market based on the EU model, but in practice, everything may slide into a system where every crypto trader is a 'potential money launderer'.
💰 Taxes: legalization or racketeering?
The main scare for investors is the introduction of taxes on crypto. Rates from 5% to 23% have already been discussed, but with such a level of corruption, one can assume that there will be another scheme of 'pay off or sit down'.
🏦 Will we become a crypto hub?
Ukraine has everything: IT specialists, crypto enthusiasts, exchanges, and even successful blockchain projects. But if regulation follows the scenario of 'cash registers for every wallet', instead of a crypto paradise, we will get 'crypto emigration', and talents along with capital will move to Dubai or El Salvador.
🚀 What's next?
If the authorities don't overdo it with restrictions, Ukraine has a chance to become the crypto center of Eastern Europe. But if regulators continue their fight for 'total control', then the entire crypto community will simply go underground, and the registrations of Ukrainian projects will massively move to the Caymans.
😎 Conclusion:
Crypto in Ukraine is like an outlet in the bathroom: you can use it, but at any moment it can give you a good shock.
