The Verkhovna Rada of Ukraine plans to hold the first reading of a bill aimed at legalizing and regulating the cryptocurrency market in the country in August 2025. The document has already been included in the agenda, as reported by the head of the parliamentary Committee on Finance, Taxation, and Customs Policy, Danilo Hetmantsev.
This is reported by Business • Media
Purpose of the Bill and Tax Conditions
According to Hetmantsev, the initiative is aimed not only at organizing the sphere of digital assets but also at ensuring legal protection for cryptocurrency owners, exchanges, and companies operating in this sector. He emphasized that the crypto market in Ukraine already has significant scale and cannot be ignored.
“We need to provide the market with legal protection. For those people who own crypto. For those people who sell, exchanges that carry out this activity. The state must recognize this and must allow the owner to protect their rights. Because you cannot ignore what is bigger than you,” Hetmantsev stated.
One of the key points of the bill is the possibility of legalizing previously acquired digital assets. To do this, citizens will be offered to declare their cryptocurrency and pay a one-time tax of 5% on personal income and 5% military tax. After paying this amount, the assets will be officially recognized as legally acquired.
As Hetmantsev noted, the rate of 10% was agreed upon during consultations not only with Ukrainian state bodies but also with international experts, including representatives of the International Monetary Fund. In his opinion, this is a compromise that takes into account the interests of the majority of market participants.
Asset Control and European Standards
The official also explained that those who do not wish to legalize their digital assets will be able to remain in the “shadows.” However, sooner or later, the connection between the owner and the crypto wallet will become evident, and all previous transactions will be known along with the corresponding tax consequences.
Hetmantsev emphasized the importance of implementing European standards for controlling the origin of funds, especially in the context of Ukraine’s preparation for EU membership. He stressed that without the legalization of crypto assets, it will be difficult for citizens to explain the origin of funds when purchasing expensive goods or assets in the future.
Previously, the politician noted that the main obstacle to considering the bill remains the determination of the regulatory authority for the market. Discussions on this issue are ongoing between the National Bank of Ukraine, the National Securities and Stock Market Commission, and the Ministry of Digital Transformation.
It is worth noting that a bill regarding the creation of a crypto reserve has also been registered in Ukraine.