Ukraine has taken a step towards legalizing cryptocurrencies: the Rada supported the bill in the first reading
Date: 2025-09-04 Author: Oliver Abernathy Categories: IN WORLD
On September 3, the Verkhovna Rada of Ukraine voted for draft law No. 10225-d "On virtual asset markets". 246 deputies supported the initiative. The document for the first time establishes a legal framework for cryptocurrencies and introduces a system of their taxation.
According to the draft, the tax will be levied on annual profit from transactions with digital assets. The basis for calculation will be the difference between the income from the sale and the cost of acquisition. The rate will be 18%, but during the first year, a benefit is provided: when withdrawing funds into fiat, the tax will be reduced to 5%.
The bill also provides for a number of exceptions. The following will not be taxed:
- exchange of one virtual asset for another;
- income from the sale of assets within one minimum wage in effect on January 1 of the reporting year;
- the cost of tokens received as a result of emission, exchange for personal data or free of charge.
Control over the market will be shared by the National Bank of Ukraine and another regulator, which will be appointed additionally. This body will receive expanded powers. In particular, it will be able to demand documents and information from any companies and citizens, conduct inspections and investigations, and, by court order, block assets or seize property.
MP Yaroslav Zheleznyak noted that significant changes will be made to the draft by the second reading. Nevertheless, experts are confident that the legalization of the crypto market can attract up to $10 billion in investments to the country.
The idea of regulation has been discussed for a long time. Back in the spring, the Tax Committee supported the initiative and proposed it for consideration by the parliament. However, the process was later suspended - the document was blocked in the Office of President Volodymyr Zelensky.
Despite the promotion of the bill, the National Bank has so far abandoned the idea of creating a state reserve in bitcoins.
Thus, Ukraine is gradually approaching the formation of a full-fledged legal framework for working with cryptocurrencies, which can change the investment climate and accelerate the development of the country's digital economy.
