{ "id": 46779, "date": "2025-09-04T08:53:50", "date_gmt": "2025-09-04T01:53:50", "guid": { "rendered": "https:\/\/hbbgroup.net\/ukraines-parliament-backs-crypto-legalization-taxation-bill-in-first-reading\/" }, "modified": "2025-09-04T08:53:50", "modified_gmt": "2025-09-04T01:53:50", "slug": "ukraines-parliament-backs-crypto-legalization-taxation-bill-in-first-reading", "status": "publish", "type": "post", "link": "https:\/\/hbbgroup.net\/en_us\/ukraines-parliament-backs-crypto-legalization-taxation-bill-in-first-reading\/", "title": { "rendered": "Ukraine\u2019s parliament backs crypto legalization, taxation bill in first reading" }, "content": { "rendered": "
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The draft law passed its first reading with 246 votes and proposes an 18% income tax, 5% military tax, along with a temporary 5% rate on fiat conversions in its first year. <\/p>\n

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The Verkhovna Rada, Ukraine\u2019s parliament, passed the first reading of a bill to legalize and tax cryptocurrency on Wednesday, according<\/a> to lawmaker Yaroslav Zhelezniak. If signed into law, the bill would significantly shape the digital asset economy in the country, which ranks among the world’s top in crypto adoption.<\/p>\n

According to Zhelezniak\u2019s announcement on a Telegram channel, the bill passed the first reading with 246 lawmakers voting in support. The legislation’s draft outlines an income tax of 18% and a military tax of 5% on digital asset profits. The bill also sets a preferential 5% tax rate on fiat conversions its first year, according to the announcement.<\/p>\n

The proposed taxation rate of 23% is in line with the April recommendation of Ukraine\u2019s financial regulator<\/a>. The initial recommendation exempted crypto-to-crypto and stablecoins transactions, bringing Ukraine\u2019s crypto tax system closer to crypto-friendly countries.<\/p>\n

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Announcement from lawmaker Yaroslav Zhelezniak. Source: <\/em>Yaroslav Zhelezniak<\/em><\/a><\/figcaption><\/figure>\n

\u201cI don’t see much point in going into detail now, there will be many changes before the second reading,\u201d Zhelezniak said in an translated statement. \u201cIt is still unknown who the regulator will be (NBU or the National Securities and Stock Market Commission).\u201d<\/p>\n

Ukraine\u2019s parliament has been advancing crypto legislation this year as digital assets gain mainstream traction. In June, the Verkhovna Rada introduced a bill<\/a> to establish a crypto asset reserve, and in August, Cointelegraph learned that a taxation bill would receive<\/a> its first reading.<\/p>\n

Ukraine ranks eighth<\/a> globally in Chainalysis\u2019s 2025 Global Crypto Adoption Index. The country scores particularly high in centralized value received across both retail and institutional categories, and also holds a top spot in DeFi value received \u2014 a sector gaining traction in Eastern Europe<\/a>.<\/p>\n

\u201cA window of opportunity has opened for attracting crypto investments and repatriating foreign assets of Ukrainian crypto enthusiasts,\u201d Volodymyr Nosov, CEO of European crypto exchange WhiteBIT, told Cointelegraph. \u201cThis is a key factor for revitalizing the economy and modernizing the market […].\u201d<\/p>\n

Crypto tax discussions around the world<\/h2>\n

More countries are weighing tax policies for cryptocurrencies as the asset class gains global acceptance. Over the past year, Denmark, Brazil and the United States have each moved to address crypto taxation.<\/p>\n

In October 2024, Denmark\u2019s Tax Law Council recommended a bill to levy taxes on unrealized crypto gains<\/a>. In his report, the Danish tax minister said that the bill\u2019s approach would be a simpler way to tax crypto. It is still considered a proposal.<\/p>\n

In June 2025, Brazil moved to end a crypto tax exemption<\/a> and impose a 17.5% flat tax rate on crypto gains amid a government\u2019s push to raise money through taxation of financial markets.<\/p>\n

In July, representatives in the US\u2019s lower legislative chamber were set to hold a hearing<\/a> on a framework for the taxation of crypto assets in the country. <\/p>\n

Magazine: <\/strong><\/em>AI Eye: \u2018Slaughterbot\u2019 drones in Ukraine, MechaHitler becomes sexy waifu<\/strong><\/em><\/a><\/p>\n