Ukraine plans to officially legalize cryptocurrency by June 2025. About this stated Danylo Hetmantsev, head of the Verkhovna Rada Committee on Finance, Tax and Customs Policy.
According to him, the main part of the draft law on the legalization of cryptocurrency has already been prepared, and discussions on financial monitoring of transactions and taxation are currently ongoing.
Hetmantsev emphasized that there are no tax benefits for cryptocurrency owners. International experts advising Ukraine warn that the introduction of special conditions for the cryptocurrency market may create unequal tax conditions and negatively affect traditional business.
It is expected that the taxation of cryptocurrency will be similar to the taxation of other investment assets. At the same time, there are discussions about a transition period for owners of cryptoassets who cannot confirm the legality of their acquisition. In this case, taxes will have to be paid not only on the profit, but also on the full value of the assets.
Hetmantsev also noted that the logical regulator of the cryptocurrency market is the National Securities Commission, however, this body currently does not have sufficient capabilities to perform such a function. In his opinion, the issue of cryptocurrency regulation should remain within the competence of the National Bank of Ukraine for the time being.
He added that the draft law on cryptocurrency is planned to be considered in the first reading in the first quarter:
“I can definitely promise that we will do everything possible to pass this law at least by the summer of this year.”
