The Ukrainian government plans to legalize cryptocurrency before this summer

ChainCatcher news, according to Cryptonews, Ukrainian senior lawmaker Danylo Hetmantsev stated that Kyiv hopes to "legalize" cryptocurrency before this summer, with the main text of the relevant bill fully prepared. Hetmantsev is the chairman of the Committee on Finance, Taxation and Customs Policy of the Verkhovna Rada of Ukraine.

Lawmakers are still discussing several issues, including how regulators and law enforcement will apply "financial monitoring" methods to cryptocurrency transactions. Additionally, the designers of the bill must complete tax-related matters before the draft is submitted to the Rada.

Hetmantsev added that Kyiv will not provide any "bonuses or benefits" to companies and individuals using cryptocurrency, explaining that Kyiv has consulted "international experts on the issue of legalization," who believe that any "preferential system" could impose an uneven tax burden on traditional industries using cryptocurrency. Kyiv plans to ensure that cryptocurrency transactions are "subject to the same tax rates as other investment assets" and adopt a normal tax rate system.