Legislation for Crypto Regulations Near Approval in Ukraine

Ukraine is preparing to officially legalize cryptocurrency by the summer of 2025, marking a major step toward integrating digital assets into its financial system. Danilo Getmantsev, a key lawmaker, confirmed that the legislation’s main framework is finalized, with ongoing discussions on taxation and financial oversight.

According to Minfin, unlike some countries offering crypto tax incentives, Ukraine will tax digital assets similarly to other investment instruments. This approach ensures a fair tax burden across industries. However, a key challenge remains that investors who are unable to verify their crypto acquisitions may be taxed on their entire holdings rather than just their profits.

Regulatory oversight is another issue under discussion. While the National Securities and Stock Market Commission was expected to regulate crypto, Getmantsev believes it lacks the institutional capacity to do so. Instead, he suggests the National Bank of Ukraine should take charge, at least temporarily.

The legislation is expected to pass its first reading in early 2025, with full adoption targeted by mid-year. Regulatory bodies, including the National Securities Commission, have acknowledged this timeline as realistic, signaling Ukraine’s commitment to embracing crypto innovation and investment.