“Green Road for digital assets: Rada finalizes draft law on cryptocurrency
23 April 2025 12:19
The Verkhovna Rada Committee on Finance, Taxation and Customs Policy has finalized the final version of a draft law aimed at comprehensively regulating the virtual asset market in Ukraine. The 200-page document contains provisions on the legal status of cryptocurrencies, defines the competence of regulators, taxation, circulation requirements, and the specifics of working with virtual assets, "Komersant Ukrainian" reports citing Forbes.
The development of this draft law lasted almost six months and is part of Ukraine’s obligations to the International Monetary Fund. The respective legislative regulation is a key step for the integration of the Ukrainian financial market into the international legal system of digital assets circulation.
The document envisages the introduction of a special taxation regime for transactions with virtual assets, including cryptocurrencies, tokens and other forms of digital assets.
Danylo Hetmantsev, chairman of the Verkhovna Rada’s Finance Committee, explained that the tax will be charged only on net profit, i.e., the difference between the cost of buying crypto assets and the income from their sale.
In the first year after the law comes into force , a preferential tax regime will be in effect . In particular, the personal income tax (PIT) rate will be 5% instead of the standard 18%. In addition, during this period, there will be no need to confirm the costs of purchasing cryptocurrencies. This should stimulate asset legalization and contribute to the formation of a transparent crypto market in Ukraine.
After the end of the grace period, cryptocurrency holders will be required to provide documents confirming the purchase of digital assets in order to benefit from the deduction of expenses for tax purposes. In addition to personal income tax, a 1.5% military tax will also be levied on profits from cryptocurrency transactions.
The draft law also establishes tax exemptions for certain types of cryptocurrency transactions. For example, transactions involving the exchange of one cryptocurrency for another will not be taxed if their value does not exceed one minimum wage at the time of the transaction. In addition, mining – the process of creating new blocks in the blockchain – will also be exempt from taxation if the resulting assets are not sold for fiat money.
The draft law pays special attention to the regulatory framework. It is envisaged that the National Securities and Stock Market Commission and the National Bank of Ukraine will be the main regulators in the field of virtual assets. They will be empowered to register market operators, license their activities, supervise compliance with financial monitoring rules and combat money laundering.
Read also: A new era of corruption: how cryptocurrency has become a tool for bribery in Ukraine
In addition, the law provides for a transitional period during which a simplified mechanism for registering crypto operators will be in place. This will allow market participants to adapt to the new requirements without excessive administrative pressure. It is expected that these conditions will encourage a large number of businesses that previously operated without official registration to come out of the shadows.
Economic experts interviewed by the media explain that the adoption of the draft law will allow Ukraine to take another step towards building an open and competitive digital asset market. This is important not only in terms of attracting investment but also for the overall development of the national financial infrastructure. It is expected that the full functioning of the new legal framework will facilitate the legalization of cryptocurrency transactions, reduce the volume of shadow financial flows, and increase confidence in Ukrainian jurisdiction among international partners.
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