Ukrainian parliamentary committee backs crypto market regulation bill
A specialized committee of Ukraine's Verkhovna Rada has approved draft law No. 10225-d on the regulation of the virtual asset market. The bill introduces taxation of cryptocurrency profits, licensing requirements for market participants, and new measures to protect users.
The decision was announced in a Telegram post by Ukrainian lawmaker Yaroslav Zhelezniak, who heads the working group responsible for drafting the legislation. Twenty committee members voted in favor of the bill, with its second reading expected in November 2026.
If finally adopted, the new rules will take effect on July 1, 2027. Work on the legislation lasted approximately three years, and its final draft runs to 264 pages.
How Ukraine plans to regulate cryptocurrencies
Under the proposed legislation, the National Securities and Stock Market Commission will become the primary market regulator. The National Bank of Ukraine will oversee electronic money, foreign exchange supervision, and other areas within its authority.
The bill establishes the following tax rules:
- Profits from the sale of cryptocurrencies will be taxed on the difference between purchase and sale prices.
- Transactions involving virtual assets will be exempt from value-added tax (VAT).
- Exchanges of one cryptocurrency for another will not be subject to taxation.
- Profits up to the equivalent of one minimum monthly wage will be exempt from taxation.
- A transitional period with a reduced personal income tax rate of 5% will apply to previously acquired assets through the end of 2028.
The bill also establishes requirements for safeguarding customer assets, handling complaints, and protecting users' rights. Financial monitoring procedures and checks on the origin of funds will also be strengthened.
Bill moves toward second reading
Zhelezniak described the preparation of the legislation as one of the most complex legislative processes of his career. According to him, agreeing on its provisions required numerous working group meetings, while the comparative table of amendments reached 1,301 pages.
Ukrainian lawmakers drew on European Union best practices when developing the regulatory framework. However, Zhelezniak emphasized that committee approval is only an intermediate step and that the final decision rests with parliament.
Meanwhile, Ukraine is tightening oversight of cryptocurrency transactions linked to efforts to circumvent international restrictions. In October, President Volodymyr Zelenskyy imposed sanctions on 28 individuals and 27 legal entities that authorities have linked to Russian financial schemes.
Earlier, we reported that Ukrainian law enforcement agencies uncovered an underground cryptocurrency and cash exchange network. Authorities seized more than $15 million in assets as part of the investigation.
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