The Verkhovna Rada, Ukraine’s parliament, handed the primary studying of a invoice to legalize and tax cryptocurrency on Wednesday, based on lawmaker Yaroslav Zhelezniak. If signed into regulation, the invoice would considerably form the digital asset financial system within the nation, which ranks among the many world’s prime in crypto adoption.
In accordance with Zhelezniak’s announcement on a Telegram channel, the invoice handed the primary studying with 246 lawmakers voting in assist. The laws’s draft outlines an revenue tax of 18% and a army tax of 5% on digital asset income. The invoice additionally units a preferential 5% tax price on fiat conversions its first yr, based on the announcement.
The proposed taxation price of 23% is in keeping with the April suggestion of Ukraine’s monetary regulator. The preliminary suggestion exempted crypto-to-crypto and stablecoins transactions, bringing Ukraine’s crypto tax system nearer to crypto-friendly nations.
“I do not see a lot level in going into element now, there shall be many adjustments earlier than the second studying,” Zhelezniak stated in an translated assertion. “It’s nonetheless unknown who the regulator shall be (NBU or the Nationwide Securities and Inventory Market Fee).”
Ukraine’s parliament has been advancing crypto laws this yr as digital belongings achieve mainstream traction. In June, the Verkhovna Rada launched a invoice to determine a crypto asset reserve, and in August, Cointelegraph realized {that a} taxation invoice would obtain its first studying.
Ukraine ranks eighth globally in Chainalysis’s 2025 World Crypto Adoption Index. The nation scores notably excessive in centralized worth obtained throughout each retail and institutional classes, and in addition holds a prime spot in DeFi worth obtained — a sector gaining traction in Japanese Europe.
“A window of alternative has opened for attracting crypto investments and repatriating international belongings of Ukrainian crypto fans,” Volodymyr Nosov, CEO of European crypto change WhiteBIT, informed Cointelegraph. “This can be a key issue for revitalizing the financial system and modernizing the market […].”
Crypto tax discussions all over the world
Extra nations are weighing tax insurance policies for cryptocurrencies because the asset class positive aspects world acceptance. Over the previous yr, Denmark, Brazil and the USA have every moved to deal with crypto taxation.
In October 2024, Denmark’s Tax Regulation Council really helpful a invoice to levy taxes on unrealized crypto positive aspects. In his report, the Danish tax minister stated that the invoice’s method can be an easier technique to tax crypto. It’s nonetheless thought-about a proposal.
In June 2025, Brazil moved to finish a crypto tax exemption and impose a 17.5% flat tax price on crypto positive aspects amid a authorities’s push to lift cash by way of taxation of monetary markets.
In July, representatives within the US’s decrease legislative chamber had been set to carry a listening to on a framework for the taxation of crypto belongings within the nation.
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