Ukraine’s legislative body is gearing up for an initial review of proposed cryptocurrency regulations before September, according to sources within the government. The anticipated legislation seeks to create a clear legal structure for digital currencies, aiming for alignment with established European standards.
Danylo Hetmantsev, who leads the parliamentary committee overseeing finance, taxation, and customs policy, stated to Cointelegraph that the draft law concerning taxes on virtual asset transactions is nearing completion.
“The current estimate is that the Verkhovna Rada will receive the draft for its first reading towards the end of August 2025,” Hetmantsev noted.
A noteworthy component of the draft is a provision allowing individuals to declare and legitimize digital assets they already possess. According to reports, this regularization process would involve a 5% tax on personal income and an additional 5% for military duty, as stated by Hetmantsev in an interview.
Ukraine’s regulatory path regarding the crypto industry has seen periods of advancement and pauses. Back in 2022, the Verkhovna Rada, Ukraine’s single-chamber parliament, enacted laws legalizing cryptocurrency exchanges. However, enacting clear taxation rules for crypto transactions has proceeded at a slower pace.
In December 2024, government authorities publicly announced strategies for fresh legislation that would impose similar tax treatment on cryptocurrency trading as securities, applying taxes when digital assets are converted into traditional currency.
In April 2025, Ukraine’s main financial regulatory agency suggested a tax rate of up to 23% on some types of crypto transactions. However, the regulator left space for certain exceptions, such as crypto-to-crypto trading and stablecoin transactions.
Related: Insights from the Russia-Ukraine Conflict on Cryptocurrency
Ukraine Joins Trend of Countries Developing Crypto Tax and Reserve Policies
Separately, in June, lawmakers introduced a bill that would authorize the National Bank of Ukraine to hold cryptocurrencies, including Bitcoin (BTC), as part of its official reserves. The intention behind this was revealed at a Kyiv conference in May.
Information from BitcoinTreasuries.net shows Ukraine as the fourth-largest governmental holder of Bitcoin, possessing 46,351 BTC with a current value of $5.4 billion.
If the proposed legislation becomes law, Ukraine would rank among a select group of nations that have formally incorporated cryptocurrency into their national reserves. President Trump of the United States signed an executive order on March 6 establishing a national Bitcoin reserve. In similar fashion, Kazakhstan communicated its intent on June 30 to create a comparable crypto reserve.
Across Eastern Europe, there has been a significant rise in crypto activity, with total inflows reaching $499 billion from July 2023 to June 2024.
Magazine: AI Developments: “Slaughterbot” Drones in Ukraine, and Controversial AI Imagery