The Verkhovna Rada, Ukraine’s parliament, handed the primary studying of a invoice to legalize and tax cryptocurrency on Wednesday, in keeping with lawmaker Yaroslav Zhelezniak. If signed into regulation, the invoice would considerably form the digital asset economic system within the nation, which ranks among the many world’s prime in crypto adoption.
In line 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 earnings tax of 18% and a army tax of 5% on digital asset income. The invoice additionally units a preferential 5% tax fee on fiat conversions its first 12 months, in keeping with the announcement.
The proposed taxation fee of 23% is in step 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 might be many modifications earlier than the second studying,” Zhelezniak mentioned in an translated assertion. “It’s nonetheless unknown who the regulator might be (NBU or the Nationwide Securities and Inventory Market Fee).”
Ukraine’s parliament has been advancing crypto laws this 12 months as digital property achieve mainstream traction. In June, the Verkhovna Rada launched a invoice to ascertain a crypto asset reserve, and in August, Cointelegraph discovered {that a} taxation invoice would obtain its first studying.
Ukraine ranks eighth globally in Chainalysis’s 2025 International Crypto Adoption Index. The nation scores significantly 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 Jap Europe.
“A window of alternative has opened for attracting crypto investments and repatriating overseas property of Ukrainian crypto fanatics,” Volodymyr Nosov, CEO of European crypto trade WhiteBIT, instructed Cointelegraph. “This can be a key issue for revitalizing the economic system and modernizing the market […].”
Crypto tax discussions around the globe
Extra nations are weighing tax insurance policies for cryptocurrencies because the asset class good points world acceptance. Over the previous 12 months, Denmark, Brazil and america have every moved to deal with crypto taxation.
In October 2024, Denmark’s Tax Legislation Council beneficial a invoice to levy taxes on unrealized crypto good points. In his report, the Danish tax minister mentioned that the invoice’s strategy can be a less complicated method to tax crypto. It’s nonetheless thought of a proposal.
In June 2025, Brazil moved to finish a crypto tax exemption and impose a 17.5% flat tax fee on crypto good points amid a authorities’s push to boost cash by taxation of economic 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 property within the nation.
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