The head of the parliamentary Committee on Finance, Taxation, and Customs Policy, Danilo Hetmantsev, stated that cryptocurrencies will not be recognized as a means of payment in Ukraine. He also reported on the preparation of a significant number of amendments to the draft law “On Virtual Assets,” which the Verkhovna Rada supported in the first reading on September 3, 2025.
This is reported by Business • Media
Reasons for Rejecting the Use of Cryptocurrencies as a Means of Payment
Danilo Hetmantsev emphasized that using cryptocurrencies for transactions could be even more dangerous than allowing the circulation of foreign currencies such as the euro or dollar. According to him, this issue pertains to the protection of national security and the sovereignty of the state. Hetmantsev also noted that he does not insist on any fundamental provisions in the draft law and advocates for the preparation of the most reasonable version of the law based on well-founded expert criticism.
“The problem with this law was that no one prepared it seriously. […] If the committee (the financial committee of the Verkhovna Rada) had not taken it on, the document would not have reached the first reading. The text that I, as the head of the committee, received in March was of poor quality — it felt like it was written by ChatGPT. We created a working structure of the text, but I still do not have a final answer to the question of whether everything is as it should be there,” explained Hetmantsev.
Further Work on the Draft Law and Involvement of Experts
The deputy stressed that the virtual assets market is new, so he is wary of potential mistakes in the legislation. To refine the draft law for the second reading, it is planned to involve as many specialists as possible, of whom there are currently not enough in the country. Hetmantsev emphasized the readiness to change any provisions, except for the issue of tax benefits — taxation of transactions with virtual assets will remain standard, similar to transactions with securities.
He highlighted that all changes to the law will only be considered if they are justified. The adoption of the draft law will not be rushed, and if the current Verkhovna Rada does not complete its work on it, the document will be passed on to the new composition of parliament for consideration.
It was previously reported that Ukraine ranked first in the world for the level of crypto activity relative to its population.