The Ukrainian parliament plans to conduct a first reading of a cryptocurrency regulation bill in late August, government officials said. If approved, the legislation could establish a legal framework for digital assets that aligns with European standards.
"The preparation of the draft law on the taxation of virtual asset transactions is currently in the final stages," said Danylo Hetmantsev, chairman of the parliament's finance, tax, and customs policy committee, to Cointelegraph.
A key provision of the bill allows individuals to proactively legalize previously acquired digital assets. According to Hetmantsev, under this regulatory framework, holders seeking to legalize their assets will need to pay a 5% personal income tax and a 5% military tax.
Ukraine has a tumultuous history regarding cryptocurrency industry regulation. In 2022, the country's unicameral parliament, the Verkhovna Rada, passed legislation to legalize cryptocurrency exchanges. However, progress on taxing cryptocurrency transactions has been slow.
In December 2024, the government revealed new legislative plans to tax cryptocurrency transactions similarly to securities transactions, taxing them when assets are converted into fiat currency.
In April 2025, Ukraine's financial regulator proposed a tax rate of up to 23% on certain cryptocurrency transactions but left room to exclude cryptocurrency-to-cryptocurrency and stablecoin transactions.
In another cryptocurrency initiative, lawmakers proposed a bill in June allowing the National Bank of Ukraine to include cryptocurrencies like Bitcoin (BTC) in its reserves. The plan was announced at a meeting in Kyiv in May.
According to BitcoinTreasuries.net, Ukraine is the fourth-largest holder of Bitcoin among governments, with 46,351 BTC, valued at $5.4 billion at current prices.
If signed into law, this legislation would make the country one of the few jurisdictions with a codified cryptocurrency reserve. U.S. President Trump signed an executive order on March 6 to establish a strategic Bitcoin reserve in the country, while Kazakhstan announced plans to form a similar cryptocurrency reserve on June 30.
Cryptocurrency activity in Eastern Europe has surged, with the region receiving $499 billion in cryptocurrency inflows from July 2023 to June 2024.
Related: South Korean investors shift from U.S. tech stocks to cryptocurrency-related stocks
Original article: “Ukraine to Review Cryptocurrency Market Regulation Bill in Late August”
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