Ukraine is preparing to evaluate a comprehensive crypto regulation bill expected to be presented to the Verkhovna Rada in late August 2025. This initiative aims to create a legal framework that aligns with European Union standards.
Goals of the Crypto Bill
The bill aims to establish a tax regime for cryptocurrencies. It allows asset owners to legalize their holdings by declaring them on tax returns. A total tax of 10% on crypto holdings is proposed, which includes 5% personal income tax and 5% military levy. Danylo Hetmantsev, head of the parliamentary committee on finance, tax, and customs policy, stated that the draft law's submission for the first reading is scheduled for the end of August 2025.
Increasing Transparency in the Crypto Space
By introducing this tax policy, Ukraine aims to enhance transparency within the crypto space. The bill seeks to integrate digital assets into the traditional economy, resulting in greater oversight of crypto ownership and trading. Authorities warn that over time, crypto wallets and transactions will become increasingly transparent for tax compliance purposes, reducing illicit activities in the crypto sector.
Aligning Regulation with Global Standards
The draft law will establish a legal framework for digital assets consistent with EU requirements and Financial Action Task Force (FATF) guidelines. The Governor of the National Bank of Ukraine, Andriy Pyshnyy, reiterated that regulating crypto does not mean treating it as legal tender, emphasizing that the legalization of virtual assets should not undermine financial monitoring effectiveness.
The passage of the crypto regulation bill in Ukraine represents a significant step towards integrating digital assets into the formal economy and enhancing tax transparency, while also creating a solid legal foundation for cryptocurrency owners.
