Ukraine advances in legislative and tax issues applicable to cryptocurrencies

The Supreme Rada approved a bill that raises a 23% tax to cattle profits. It still remains to define the sector regulator.

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• The Ukrainian Parliament approved in first reading a project to tax cryptoactives.
• The initiative establishes a total 23% tax on profits.
• Ukraine is positioned among the leading countries for crypto adoption.
• New round rounds are still missing for this project to become law.

The Supreme Rada of Ukraine, the main legislative chamber of the country, took a key step towards the regulation of digital assets by approving in first reading a bill to legalize and tax cryptocurrencies.

With the support of 246 legislators, the proposal establishes a tax on cryptocurrency profits composed of 18% income tax and 5% military tax. In addition, it raises a preferential regime of 5% for conversions to Fíat money during its first year of validity.

If approved in the second reading and signed as a law, the regulatory framework would transform the landscape of the digital economy in Ukraine, a country that occupies an outstanding position in the global adoption of cryptocurrencies.

Details of the bill

As detailed Cointelegraphthe 23% tax scheme is in line with the recommendations issued in April by the Financial Regulator of Ukraine. On that occasion, it was proposed to exclude transactions crypto to crypto and with stablcoins, with the aim of bringing the fiscal model to standards of countries considered more friendly to the sector.

The local legislator, Yaroslav Zhelezniak, stressed that it is still premature to deepen the details, since the text could suffer multiple modifications before the second reading. One of the central doubts is which organism will be in charge of supervision: the National Bank of Ukraine (NBU) or the National Securities Commission and Securities Market.

“It is still unknown who will be the regulator. There will be many changes before the second reading”said the legislator in translated statements.

Legislative and economic context

During 2025, Ukraine has promoted different projects linked to crypto ecosystem. In June, the Rada presented a project for the creation of a cryptoactive reserve. In August, it was confirmed that the taxation project would receive its first parliamentary discussion, which finally was completed now.

The impulse occurs in a context where cryptocurrencies acquire prominence in the global economy and governments’ collection strategies. For Ukraine, a country with significant economic challenges due to war conflict, cryptactive taxation represents an additional income and investment attraction opportunity.

Ukraine and global adoption of crypto

According to him Global Adoption Index 2025 Chainysis, Ukraine occupies the eighth place worldwide. The country stands out in volume received through centralized exchanges in both retail and institutional categories, and is among the main value receptors in the defi ecosystem.

This dynamism makes Ukraine a study case for the Eastern European region. Volodymyr Nosov, executive director of the European Exchange WHITEBIT, declared to Cointelegraph that the new tax framework opens a favorable scenario to attract investments and repatriate assets of Ukrainian enthusiasts. “This is a key factor to revitalize the economy and modernize the market”he said.

Crypt Taxation on the International Stage

Cryptocurrency tax debate is not exclusive to Ukraine. During the last year, various countries have taken measures in this direction.

In October 2024, the Denmark Tax Law Council recommended a bill to tax unrealized cryptoactive profits. Although it is still in the proposal stage, it seeks to simplify the taxation of the sector.

In June 2025, Brazil eliminated a tax exemption and applied a flat rate of 17.5% on crypto profits, in an effort of the government to increase collection in financial markets.

In the United States, the House of Representatives held an audience in July to discuss a specific regulatory framework on digital asset taxation.

These developments show that the adoption of cryptocurrencies drives states to design tax schemes that recognize the relevance of a constantly growing market. Ukraine, with this first legislative approval, adds to this international trend.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image of Diariobitcoin, created with artificial intelligence, for free use, licensed under public domain.

WARNING: Diariobitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Cryptactive investments are high risk and may not be adequate for all. Investigate, consult an expert and verify the applicable legislation before investing. I could lose all its capital.

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