The Verkhovna Rada of Ukraine has passed a bill regulating cryptocurrencies in its first reading, including provisions for taxation. The legislation received 246 votes, exceeding the required minimum of 226, with only one parliamentarian voting against it.
Under the proposed law, profits from cryptocurrency transactions will be taxed at 18%. However, a reduced rate of 5% will apply during the first year after the law takes effect. Final approval is expected in the coming months, with the law potentially coming into force on January 1, 2026.
Within one month of its enactment, the government must designate a regulatory body for the crypto market, though it remains undecided whether this will be the National Bank of Ukraine or the National Securities and Stock Market Commission, according to lawmaker Yaroslav Zheleznyak.
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The legalization of cryptocurrencies aligns with requirements agreed upon by Ukraine and the International Monetary Fund, marking a significant step toward integrating the digital asset sector into the country’s economy.
