CandleFocus Ukraine All Set To Legalize Crypto In 2025 Without Tax Exemptions
2024-12-12
Author: Content Editor
Ukraine is planning to legalize cryptocurrency by the first quarter of 2025. However, there will be no tax exemptions for cryptocurrency transactions, and taxation will follow the model used for securities. The head of Ukraine’s Parliamentary Committee on Finance, Tax, and Customs Policy mentioned that a draft law on cryptocurrency is being finalized and is expected to be ready shortly after the New Year. This legislation is being developed in collaboration with the National Bank and the International Monetary Fund (IMF). The cautious approach towards tax exemptions for cryptocurrencies is being taken to avoid potential tax evasion in traditional markets. The final step towards the legalization of cryptocurrencies in Ukraine will be the adoption of a draft law on taxing virtual asset transactions, which was registered in the country's parliament in November 2023.
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