Ukraine is moving closer to a regulated crypto economy after its parliament, the Verkhovna Rada, passed the first reading of a crypto taxation and legalization bill.
The draft received support from 246 lawmakers, lawmaker Yaroslav Zhelezniak confirmed. It proposes an 18% income tax and 5% military tax on digital asset profits, with a preferential 5% rate on fiat conversions during the first year.
The proposal matches earlier recommendations from Ukraine’s financial regulator, which exempted crypto-to-crypto and stablecoin transactions to align with crypto-friendly jurisdictions. Advocates believe the 23% total tax rate will bring clarity while encouraging adoption.
Ukraine has been advancing multiple crypto-related measures in 2024, including a bill to establish a crypto asset reserve.
The new tax law is expected to significantly shape the digital asset landscape in a country already among the global leaders in crypto adoption. Lawmakers see the move as part of wider financial modernization amid ongoing geopolitical challenges.
You need to login in order to Like
Leave a comment