Ukraine’s Parliament, Verkhovan Rada on Wednesday passed the first reading of a bill to legalize and tax cryptocurrency, According To the legalist Yaroslav Jhelezenic. If the law is signed, the bill will significantly shape the digital asset economy in the country, which is included in the world’s top in adopting crypto.
According to Zhelezniak’s announcement on Telegram channel, Bill passed the first reading with 246 MPs in support. The draft law underlines 5% military tax on income tax and digital asset profits of 18%. According to the announcement, the bill also determines a 5% tax rate on FIAT conversions in its first year.
The proposed taxation rate of 23% in line with the April recommendation of Ukraine’s financial regulator. The initial recommendation exempted the Crypto-to-Crypto and Stabecoin transactions, bringing Ukraine’s crypto tax system closer to the crypto-friendly countries.
“I don’t see much points to go into detail now, there will be many changes before the second reading,” Zhelezniak said in a translated statement. “It is still unknown who will be the regulator (NBU or National Securities and Stock Market Commission).”
The Parliament of Ukraine is pursuing the Crypto Act this year as digital property attains mainstream traction. In June, Verkhovan Rada introduced a bill to establish a Crypto Asset Reserve, and in August, Coinlagraph learned that a taxation bill would receive its first reading.
Ukraine is ranked globally in the 2025 Global Cripto Adoption Index of the channelsis. The country scores a particularly high score in the centralized value obtained in both retail and institutional categories, and also holds a top location in DEFI price – an area receiving traction in Eastern Europe.
“A window of opportunity has been opened to attract crypto investments and bring back the foreign assets of Ukrainian Crypto enthusiasts,” said Vodimier Nosov, CEO of European Crypto Exchange Whitebit. “It is an important factor to revive the economy and modernize the market. […],
Crypto discussion around the world
More countries are weighing tax policies for cryptocurrency because the asset class receives global acceptance. In the last one year, Denmark, Brazil and the United States have gone to address each crypto taxation.
In October 2024, Denmark’s Tax Law Council recommended a bill to carry taxes on untrue crypto benefits. In his report, the minister said that the bill’s approach would be a simple way to crypto taxes. It is still considered a proposal.
In June 2025, Brazil went to end a crypto tax exemption and imposed a 17.5% flat tax rate on crypto profit amid the government’s push to raise funds through the taxation of financial markets.
In July, delegates in the US lower legislative chamber were prescribed to hear a framework for the taxation of crypto assets in the country.
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