Ukrainian parliament aims for crypto legalization by early 2025
Ukraine Crypto Legalization
Ukraine is set to legalize cryptocurrencies by early 2025, marking a significant shift in the country’s approach to digital assets.
According to Daniil Getmantsev, head of the tax committee of the Verkhovna Rada, the new legislation will bring crypto operations under a regulated framework but will not offer tax incentives, according to Cointelegraph.
The draft bill, currently under review, aims to create a transparent environment for businesses and investors. The National Bank of Ukraine (NBU) and the International Monetary Fund (IMF) are collaborating on the proposal, which is expected to be presented for the first parliamentary reading in early 2025.
A New Era of Crypto Oversight in Ukraine
Unlike previous speculation about possible tax breaks, Ukraine’s crypto profits will be taxed similarly to traditional securities trading. Profits will be subject to capital gains tax upon conversion to fiat currencies. This approach aims to minimize tax evasion while ensuring a steady revenue stream for the government.
The proposed regulations focus on financial stability and Anti-Money Laundering (AML) compliance, ensuring a legally secure environment for crypto-related businesses and investors. During the ongoing war with Russia, access to digital assets has provided Ukrainians with an alternative means of financial support, including donations and humanitarian aid.
Global crypto adoption is accelerating, and Ukraine’s move could position the country as a regulated hub for digital asset trading in Eastern Europe. This move follows a similar path taken by Morocco, which plans to legalize cryptocurrencies after years of prohibition.
Despite the absence of tax incentives, the Ukrainian government’s cautious stance reflects a broader strategy to prevent exploitation of regulatory loopholes. The new framework is seen as a step toward fostering financial security and ensuring fiscal oversight in a rapidly evolving global crypto market.
The UK government plans to introduce a comprehensive regulatory framework for the cryptocurrency industry. It aims to position the country as a competitive alternative to the U.S., where former President Trump has pledged crypto-friendly policies.
