Ukraine plans to legalize cryptocurrency in early 2025

2024-12-12 19:44:43

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ChainCatcher news, according to the Ukrainian Truth newspaper, cryptocurrency is expected to be legalized in Ukraine by the first quarter of 2025, but the possibility of tax exemption is slim.

Danylo Hetmantsev, chairman of the Ukrainian Parliament's Committee on Finance, Taxation and Customs Policy, stated: "When it comes to cryptocurrency, the parliamentary working group is completing the first reading of a draft law. I believe that the text developed in cooperation with the National Bank and the International Monetary Fund (IMF) will be ready after the New Year. Our goal is to legalize cryptocurrency through this law and to do so by the first quarter of 2025."

Hetmantsev expressed: "Cryptocurrency will not be tax-exempt; the form of taxation will mimic that of securities, taxing profits when assets are converted into currency. After consultations with European experts and the IMF, we have taken a very cautious approach to tax exemption for cryptocurrency, as it could exacerbate tax evasion in traditional markets."

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