Ukraine may legalize cryptocurrency in the first quarter of 2025. The relevant bill is currently in the final stages of development and approval.
No preferential taxation is envisaged for transactions with digital assets. This was stated by the chairman of the Verkhovna Rada Tax Committee, Danylo Hetmantsev, at the EP forum “Prospects for Investments Within the Country”.
The working group is completing the preparation of the document for the first reading in parliament. The text of the bill is being coordinated with the National Bank of Ukraine and the International Monetary Fund. Hetmantsev predicts that the document will be considered and adopted in the first quarter of next year.
According to him, the taxation of cryptocurrency transactions is planned to be carried out according to the securities model. The tax will be charged on profits during the conversion of digital assets into traditional currency.
Danylo Hetmantsev emphasized that the issue of tax benefits for the cryptocurrency market was discussed with European experts and the IMF. We decided to abandon this idea due to the risks of tax evasion in traditional sectors of the economy.
Recall that draft law No. 10225 on the specifics of taxation of transactions with virtual assets was registered in the Verkhovna Rada in November last year. This document should become the final stage in the process of legalizing cryptocurrencies in Ukraine.