Ukrainian regulator may legalize cryptocurrency this summer

Ukraine plans to finally legalize cryptocurrencies this summer, according to Danylo Hetmantsev, chairman of the Verkhovna Rada Committee on Finance, Taxation and Customs Policy. According to him, the main text of the relevant draft law is ready, but discussions on financial monitoring and taxation of crypto assets are ongoing.

The main issue is how regulators and law enforcement agencies will control cryptocurrency transactions. Legislators want to ensure effective financial monitoring without creating unnecessary barriers for market participants.

Mr. Hetmantsev also noted that Ukraine will not provide special tax benefits for companies or individuals using cryptocurrencies. International experts involved in the drafting of the bill have warned that such privileges could create an unequal playing field for traditional businesses.

According to the proposed model, cryptocurrency transactions in Ukraine will be taxed at standard rates, just like other investment assets. Thus, Kyiv aims to create a transparent and predictable legal regime for digital assets without excessive government interference in the market.

It is expected that the draft law will be submitted to the Verkhovna Rada after all financial and tax aspects are agreed upon, which will make Ukraine one of the leading countries in the field of crypto regulation.