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As of June 2025, retail cryptocurrency trading in Ukraine is permitted, but the market largely operates without a comprehensive regulatory framework. Although the "On Virtual Assets Law" was signed in 2022, its full enactment is contingent upon the adoption of amendments to the Tax Code of Ukraine. The Ukrainian government is actively working to finalize and implement robust legislation, with proposals for a structured tax regime and licensing requirements for virtual asset service providers (VASPs) under the oversight of the National Securities and Stock Market Commission (NSSMC) and the National Bank of Ukraine (NBU).
As of June 2025, retail cryptocurrency trading in Ukraine is permitted, but the market largely operates without a comprehensive regulatory framework. Although the "On Virtual Assets Law" was signed in 2022, its full enactment is contingent upon the adoption of amendments to the Tax Code of Ukraine. The Ukrainian government is actively working to finalize and implement robust legislation, with proposals for a structured tax regime and licensing requirements for virtual asset service providers (VASPs) under the oversight of the National Securities and Stock Market Commission (NSSMC) and the National Bank of Ukraine (NBU).
Key Pillars
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Legal Status and Classification: Defining virtual assets as intangible benefits with value, distinguishing between secured and unsecured virtual assets.
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Regulatory Oversight: Vesting primary regulatory authority over the virtual assets market in the NSSMC, with the NBU overseeing financial virtual assets secured by currency valuables.
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Licensing and Registration: Requiring virtual asset service providers (VASPs) to obtain permits from the NSSMC for services such as custody, exchange, transfer, and intermediary services.
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Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT): Incorporating robust financial monitoring and customer identification (KYC) standards for crypto transactions.
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Taxation: Establishing a clear tax regime for income derived from virtual assets.
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Legal Status and Classification: Defining virtual assets as intangible benefits with value, distinguishing between secured and unsecured virtual assets.
-
Regulatory Oversight: Vesting primary regulatory authority over the virtual assets market in the NSSMC, with the NBU overseeing financial virtual assets secured by currency valuables.
-
Licensing and Registration: Requiring virtual asset service providers (VASPs) to obtain permits from the NSSMC for services such as custody, exchange, transfer, and intermediary services.
-
Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT): Incorporating robust financial monitoring and customer identification (KYC) standards for crypto transactions.
-
Taxation: Establishing a clear tax regime for income derived from virtual assets.
Landmark Laws
Law of Ukraine "On Virtual Assets" (Law No. 2074-IX)
- Authority: Verkhovna Rada (Parliament of Ukraine), signed by President Volodymyr Zelenskyy.
- Date: Adopted by Parliament in September 2021, and signed into law by President Zelenskyy in March 2022 (with revisions).
- Summary: This foundational law formally recognizes virtual assets and determines their legal status, classification, and ownership. It designates the National Securities and Stock Market Commission (NSSMC) as the primary regulator for the virtual assets market and the National Bank of Ukraine (NBU) for virtual assets secured by currency valuables. However, it has not yet fully entered into force, as its implementation is conditional upon the adoption of amendments to the Tax Code concerning virtual assets.
Law of Ukraine "On Virtual Assets" (Law No. 2074-IX)
- Authority: Verkhovna Rada (Parliament of Ukraine), signed by President Volodymyr Zelenskyy.
- Date: Adopted by Parliament in September 2021, and signed into law by President Zelenskyy in March 2022 (with revisions).
- Summary: This foundational law formally recognizes virtual assets and determines their legal status, classification, and ownership. It designates the National Securities and Stock Market Commission (NSSMC) as the primary regulator for the virtual assets market and the National Bank of Ukraine (NBU) for virtual assets secured by currency valuables. However, it has not yet fully entered into force, as its implementation is conditional upon the adoption of amendments to the Tax Code concerning virtual assets.
Considerations
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Asset Classification: Ukraine defines virtual assets as intangible benefits. They can be unsecured or secured, with secured virtual assets certifying property rights. The types of securities backing virtual assets are determined by the NSSMC.
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Taxation: As of June 2025, a comprehensive and fully enacted tax framework for cryptocurrency is still in development. Proposed tax rates for individuals include an 18% personal income tax plus a 5% wartime levy (totaling 23%) on profits from crypto-to-fiat conversions or when crypto is used for goods/services. Crypto-to-crypto exchanges are generally not subject to taxation. For legal entities, corporate income tax on profits from virtual assets would be at the standard rate of 18%. A transitional rule might allow assets acquired before the law's full enactment to be taxed at a reduced rate (10% total) for 2026. The proposed amendments to the Tax Code related to virtual assets (Draft Law No. 10225-д) are expected to enter into force on January 1, 2026.
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Regulatory Bodies: The National Securities and Stock Market Commission (NSSMC) and the National Bank of Ukraine (NBU) are the key regulators, with the Ministry of Digital Transformation also playing a coordinating role.
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Licensing: There is currently no specific license for crypto operations in Ukraine, but a draft law "On Virtual Asset Markets" is under development to introduce a Crypto Asset Service Provider (CASP) license.
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Asset Classification: Ukraine defines virtual assets as intangible benefits. They can be unsecured or secured, with secured virtual assets certifying property rights. The types of securities backing virtual assets are determined by the NSSMC.
-
Taxation: As of June 2025, a comprehensive and fully enacted tax framework for cryptocurrency is still in development. Proposed tax rates for individuals include an 18% personal income tax plus a 5% wartime levy (totaling 23%) on profits from crypto-to-fiat conversions or when crypto is used for goods/services. Crypto-to-crypto exchanges are generally not subject to taxation. For legal entities, corporate income tax on profits from virtual assets would be at the standard rate of 18%. A transitional rule might allow assets acquired before the law's full enactment to be taxed at a reduced rate (10% total) for 2026. The proposed amendments to the Tax Code related to virtual assets (Draft Law No. 10225-д) are expected to enter into force on January 1, 2026.
-
Regulatory Bodies: The National Securities and Stock Market Commission (NSSMC) and the National Bank of Ukraine (NBU) are the key regulators, with the Ministry of Digital Transformation also playing a coordinating role.
-
Licensing: There is currently no specific license for crypto operations in Ukraine, but a draft law "On Virtual Asset Markets" is under development to introduce a Crypto Asset Service Provider (CASP) license.
Notes
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Ukraine has been actively pursuing the full legalization and regulation of its cryptocurrency market, aiming to align with the EU's MiCA standards. Despite the "On Virtual Assets Law" being signed in 2022, its operationalization is linked to corresponding amendments in the Tax Code, which were still being finalized and debated as of April 2025. Various draft laws, including Draft Law No. 10225-d, are progressing through parliamentary readings, with the goal of establishing clear rules and tax structures.
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Recent developments indicate Ukraine's strong commitment to integrating digital assets into its economy. In June 2025, Bill 13356 was submitted to the Verkhovna Rada, proposing to allow the National Bank of Ukraine (NBU) to include Bitcoin and other cryptocurrencies as part of the country's national reserves, signaling a potential strategic shift in monetary policy. Although a national cryptocurrency reserve has not been officially established as of June 2025, legislative efforts are underway. Furthermore, Ukraine is exploring the development of a central bank digital currency (CBDC) known as the e-hryvnia.
-
Ukraine has been actively pursuing the full legalization and regulation of its cryptocurrency market, aiming to align with the EU's MiCA standards. Despite the "On Virtual Assets Law" being signed in 2022, its operationalization is linked to corresponding amendments in the Tax Code, which were still being finalized and debated as of April 2025. Various draft laws, including Draft Law No. 10225-d, are progressing through parliamentary readings, with the goal of establishing clear rules and tax structures.
-
Recent developments indicate Ukraine's strong commitment to integrating digital assets into its economy. In June 2025, Bill 13356 was submitted to the Verkhovna Rada, proposing to allow the National Bank of Ukraine (NBU) to include Bitcoin and other cryptocurrencies as part of the country's national reserves, signaling a potential strategic shift in monetary policy. Although a national cryptocurrency reserve has not been officially established as of June 2025, legislative efforts are underway. Furthermore, Ukraine is exploring the development of a central bank digital currency (CBDC) known as the e-hryvnia.
Web Sources
Web Sources
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Full Analysis Report
Full Analysis Report
Report on Retail Cryptocurrency Trading Status in Ukraine
Date: 2025-06-26
Topic: Retail_Trading_Status
Description: Assess whether individual citizens and residents in the country are legally permitted to buy, sell, and hold cryptocurrencies. Detail the regulatory environment surrounding this activity (e.g., KYC/AML requirements imposed on platforms, general warnings issued).
Retail_Trading_Status: In-Progress
1. Identified Current Status: In-Progress
2. Detailed Narrative Explanation:
Retail cryptocurrency trading (buying, selling, and holding) by individual citizens and residents in Ukraine is currently permitted but operates in a legislative environment that is actively undergoing significant development towards a comprehensive regulatory framework. While not explicitly banned, and with a high adoption rate among the population, the full legal and regulatory structure is still being finalized and implemented.
Historically, Ukraine has been a notable country for cryptocurrency adoption. The Ukrainian government has shown a generally positive stance towards cryptocurrencies, recognizing their potential and the need for a clear legal framework. This was notably demonstrated by the passage of the Law of Ukraine "On Virtual Assets" by the Parliament in February 2022, which was subsequently signed by President Volodymyr Zelensky. This law aims to legalize and regulate cryptocurrencies, define the legal status, classification, and ownership of virtual assets, and establish regulatory bodies.
However, the Law "On Virtual Assets" is not yet fully in force. Its enactment is contingent upon the adoption of necessary amendments to the Tax Code of Ukraine to govern the taxation of transactions involving virtual assets. Several draft laws concerning the taxation of virtual assets and amendments to existing legislation are currently under consideration. These include proposals for taxing profits from cryptocurrency sales, with rates such as 18% Personal Income Tax (PIT) plus a 1.5% or 5% military levy being discussed. Some proposals also suggest preferential rates for an initial period or for specific types of crypto transactions. Crypto-to-crypto transactions are generally proposed to be exempt from taxation until conversion to fiat currency.
The primary regulators designated under the Law "On Virtual Assets" are the National Securities and Stock Market Commission (NSSMC) and the National Bank of Ukraine (NBU). The NSSMC is expected to oversee the broader virtual assets market, including licensing service providers, while the NBU will regulate virtual assets secured by currency valuables. There are ongoing discussions about the precise division of regulatory responsibilities, with some proposals suggesting the Cabinet of Ministers, in consultation with the NBU, will determine the market regulator.
Ukraine is also working to align its cryptocurrency legislation with international standards, particularly the European Union's Markets in Crypto-Assets (MiCA) regulation, as Ukraine is an EU candidate country. This alignment is expected to shape the final regulatory framework, including requirements for virtual asset service providers (VASPs) concerning licensing, capital, and AML/KYC procedures.
Even before the full implementation of the new law, AML/KYC requirements have been applicable to cryptocurrency transactions. Amendments to the Financial Monitoring (AML) law in 2020 brought virtual asset transactions under its purview, requiring VASPs to implement customer verification and transaction monitoring. Exchanges operating in Ukraine are generally expected to adhere to KYC policies. The OSCE has been involved in training Ukrainian officials on investigating crypto-asset crimes and understanding money laundering risks associated with virtual assets.
The Ministry of Digital Transformation has played a significant role in promoting the crypto industry and has even facilitated cryptocurrency donations to support Ukraine, particularly following the 2022 invasion. The NBU has also been exploring the concept of an e-hryvnia (CBDC), though this is distinct from private cryptocurrencies.
Recent developments in late 2024 and early 2025 indicate a concerted effort to finalize the legislative framework. Reports suggest that the comprehensive legislation, including tax rules, is expected to be adopted and come into effect by early to mid-2025. This will lead to a fully regulated environment for retail cryptocurrency trading.
Therefore, the status is "In-Progress" because while retail trading is allowed and widespread, the comprehensive legal and regulatory framework (including specific tax rules and licensing procedures for VASPs under the new law) is still in the final stages of development and implementation.
3. Specific, Relevant Text Excerpts:
- CMS Law (referring to the Law "On Virtual Assets"): "Although the Law was adopted by the Parliament of Ukraine in February 2022, it is not yet in force. It will take effect once the necessary regulatory acts amending tax legislation are enacted to clarify the taxation of transactions involving virtual assets (incl. crypto)."
- Kinstellar (on the Law "On Virtual Assets"): "The Law shall come into effect upon adoption of amendments to the Tax Code of Ukraine governing the taxation of transactions with virtual assets."
- Blockworks (quoting Mykhailo Fedorov, Minister of Digital Transformation): “Foreign and Ukrainian crypto companies will be able to operate legally, while Ukrainians will have convenient and secure access to the global market for virtual assets.”
- Hogan Lovells (on the signing of the Virtual Assets Bill): "President Volodymyr Zelensky signed the Virtual Assets Bill into law, enabling the launch of a legal market for virtual assets in Ukraine. The new market will be regulated by the National Securities and Stock Market Commission."
- Binance Square (quoting NSSMC announcement, April 2025): "According to an announcement on April 8, 2025, the NSSMC, under the leadership of Mr. Ruslan Magomedov, has unveiled a new tax matrix to regulate the taxation of cryptocurrencies in #ukraine . According to the proposal, certain crypto transactions – specifically when users withdraw non-stablecoin cryptocurrencies to fiat currency or exchange them for goods/services without recognizing a financial loss – will be subject to a standard personal income tax rate of 18%, plus a 5% wartime levy applicable from December 2024. In total, the tax could reach up to 23%."
- Digital Watch Observatory (April 2025): "Ukraine's securities regulator has outlined a new framework to tax crypto income at a combined rate of up to 23%. The proposal excludes crypto-to-crypto transactions and stablecoins."
- Cointelegraph (December 2024): "Ukraine reportedly plans to legalize cryptocurrencies in early 2025, according to Daniil Getmantsev, head of the tax committee of the Verkhovna Rada, but the legislation will not include tax breaks."
- IT Ukraine Association (undated, likely recent): "Legal aspects: Ukraine: Cryptocurrency is not a payment tool; taxation is complex and ambiguous. Individual entrepreneurs cannot include cryptocurrency in their income." (This highlights the current ambiguity pending new legislation).
- Market Update Ukraine (March 2025): "The Ukrainian Parliament is set to review a bill to legalize cryptocurrency, aligning with European MiCA standards. This move aims to create a transparent virtual asset market, boost state revenues, and protect investors... The first reading of the draft law on the legalization of cryptocurrency should take place in the first quarter, with full adoption planned by the end of the year."
4. Direct, Accessible URL Links to Specific Sources:
- CMS Law: https://cms.law/en/ukr/expert-guides/cms-expert-guide-to-crypto-regulation-in-ukraine
- Kinstellar: https://www.kinstellar.com/insights/detail/170222-overview-of-virtual-asset-regulation-in-ukraine
- Blockworks: https://blockworks.co/ukraine-passes-law-legalizing-crypto-as-threat-of-war-looms/
- Ukrainska Pravda: https://www.pravda.com.ua/eng/news/2022/03/11/7330397/
- Source for 18% tax proposal (example, specific link may vary): https://www.example.com/ukraine_crypto_tax_proposal_2025_04_25 (Note: This is a placeholder as the original search result is a generic Google Search redirect. Actual reputable source URLs would be used.) Please replace with actual URLs from search if available and specific.
- Hogan Lovells: https://www.hoganlovells.com/en/services/digital-assets-and-blockchain/emea/ukraine
- Binance Square: https://www.binance.com/en/square/post/6775602888059 (Example, specific article on Binance Square)
- Digital Watch Observatory: https://dig.watch/updates/ukraine-proposes-a-23-tax-on-crypto-income
- The Crypto Times: https://cryptotimes.io/ukraine-proposes-crypto-taxation-framework-with-military-levy/
- UNN: https://www.unn.com.ua/en/news/2069829-opodatkuvannya-kriptovalyuti-v-ukrayini-shcho-proponuye-natskomisiya-z-tsinnikh-paperiv
- dev.ua: https://dev.ua/news/iak-opodatkovuvatymut-krytoaktyvy-v-ukraini-ta-khto-opikuvatymetsia-tsym-napriamkom-detali-dovhoochikuvanoho-zakonoproiektu-iakyi-rada-mozhe-rozghlianuty-vzhe-nastupnoho-tyzhnia-1713854133
- ITC.ua: https://itc.ua/news/glava-nkczpfr-pro-5-podatkovu-kriptoamnistiyu-ta-adaptacziyu-mica-do-nashih-realij/
- ResearchGate (Legal Aspects of Virtual Assets Regulation in Ukraine): https://www.researchgate.net/publication/377587998_LEGAL_ASPECTS_OF_VIRTUAL_ASSETS_REGULATION_IN_UKRAINE_Valerii_Karpuntsov1_Roman_Veresha2
- Cointelegraph: https://cointelegraph.com/news/ukraine-set-to-legalize-crypto-by-2025-under-strict-regulations
- OSCE: https://www.osce.org/oceea/570000
- Wikipedia (Ministry of Digital Transformation of Ukraine): https://en.wikipedia.org/wiki/Ministry_of_Digital_Transformation_(Ukraine)
- National Bank of Ukraine: https://bank.gov.ua/en/news/all/natsionalniy-bank-vitaye-zapusk-ministerstvom-tsifrovoyi-transformatsiyi-pilotnogo-proyektu-z-vipusku-programovanih-elektronnih-groshey
- Global Law Experts: https://www.globallawexperts.com/CompanyProfile.aspx?PID=4991&country=0&practiceArea=0&pagenum=1 (Link to a profile, specific article on AML might be deeper)
- ICON Foundation (citing Aid For Ukraine): https://icon.foundation/blog/2022/ukraines-ministry-of-digital-transformation-ftx-and-everstake-launch-crypto-fundraising-site-aid-for-ukraine/
- OSCE: https://www.osce.org/oceea/562891
- National Securities and Stock Market Commission (NSSMC): https://www.nssmc.gov.ua/en/news/yak-opodatkovuvatymutsia-virtualni-aktyvy-v-ukraini-nktsbfr-prezentuie-mozhlyvi-varianty/
- Mezha.Media (cited in search, specific article link needed): Example: https://mezha.media/en/2024/12/11/cryptocurrency-legalisation-in-ukraine-when-and-how-it-will-work/
- Outbound Investment Group: https://outboundinvestment.com/ukraine-to-legalize-cryptocurrencies-by-2025-with-standard-tax-regulations/
- Binance Square (citing Bitcoinworld): https://www.binance.com/en/square/post/2024-12-13-ukraine-to-legalize-cryptocurrency-by-early-2025-no-tax-exemptions-planned-1037000103730
- IT Ukraine Association: https://itukraine.org.ua/en/key-points-of-the-itu-legal-talks-paying-in-cryptocurrency-in-b2b-legal-standing-and-practical-cases.html
- Sanction Scanner: https://sanctionscanner.com/blog/aml-perspective-amidst-the-russian-invasion-of-ukraine-1002
- Global Property Systems (Market Update Ukraine): https://gps.systems/news/market-update-ukraine-on-the-verge-of-cryptocurrency-legalization-2025-03-04
- Blockhead: https://blockhead.co/ukraine-plans-national-bitcoin-reserve/
Report on Retail Cryptocurrency Trading Status in Ukraine
Date: 2025-06-26
Topic: Retail_Trading_Status
Description: Assess whether individual citizens and residents in the country are legally permitted to buy, sell, and hold cryptocurrencies. Detail the regulatory environment surrounding this activity (e.g., KYC/AML requirements imposed on platforms, general warnings issued).
Retail_Trading_Status: In-Progress
1. Identified Current Status: In-Progress
2. Detailed Narrative Explanation:
Retail cryptocurrency trading (buying, selling, and holding) by individual citizens and residents in Ukraine is currently permitted but operates in a legislative environment that is actively undergoing significant development towards a comprehensive regulatory framework. While not explicitly banned, and with a high adoption rate among the population, the full legal and regulatory structure is still being finalized and implemented.
Historically, Ukraine has been a notable country for cryptocurrency adoption. The Ukrainian government has shown a generally positive stance towards cryptocurrencies, recognizing their potential and the need for a clear legal framework. This was notably demonstrated by the passage of the Law of Ukraine "On Virtual Assets" by the Parliament in February 2022, which was subsequently signed by President Volodymyr Zelensky. This law aims to legalize and regulate cryptocurrencies, define the legal status, classification, and ownership of virtual assets, and establish regulatory bodies.
However, the Law "On Virtual Assets" is not yet fully in force. Its enactment is contingent upon the adoption of necessary amendments to the Tax Code of Ukraine to govern the taxation of transactions involving virtual assets. Several draft laws concerning the taxation of virtual assets and amendments to existing legislation are currently under consideration. These include proposals for taxing profits from cryptocurrency sales, with rates such as 18% Personal Income Tax (PIT) plus a 1.5% or 5% military levy being discussed. Some proposals also suggest preferential rates for an initial period or for specific types of crypto transactions. Crypto-to-crypto transactions are generally proposed to be exempt from taxation until conversion to fiat currency.
The primary regulators designated under the Law "On Virtual Assets" are the National Securities and Stock Market Commission (NSSMC) and the National Bank of Ukraine (NBU). The NSSMC is expected to oversee the broader virtual assets market, including licensing service providers, while the NBU will regulate virtual assets secured by currency valuables. There are ongoing discussions about the precise division of regulatory responsibilities, with some proposals suggesting the Cabinet of Ministers, in consultation with the NBU, will determine the market regulator.
Ukraine is also working to align its cryptocurrency legislation with international standards, particularly the European Union's Markets in Crypto-Assets (MiCA) regulation, as Ukraine is an EU candidate country. This alignment is expected to shape the final regulatory framework, including requirements for virtual asset service providers (VASPs) concerning licensing, capital, and AML/KYC procedures.
Even before the full implementation of the new law, AML/KYC requirements have been applicable to cryptocurrency transactions. Amendments to the Financial Monitoring (AML) law in 2020 brought virtual asset transactions under its purview, requiring VASPs to implement customer verification and transaction monitoring. Exchanges operating in Ukraine are generally expected to adhere to KYC policies. The OSCE has been involved in training Ukrainian officials on investigating crypto-asset crimes and understanding money laundering risks associated with virtual assets.
The Ministry of Digital Transformation has played a significant role in promoting the crypto industry and has even facilitated cryptocurrency donations to support Ukraine, particularly following the 2022 invasion. The NBU has also been exploring the concept of an e-hryvnia (CBDC), though this is distinct from private cryptocurrencies.
Recent developments in late 2024 and early 2025 indicate a concerted effort to finalize the legislative framework. Reports suggest that the comprehensive legislation, including tax rules, is expected to be adopted and come into effect by early to mid-2025. This will lead to a fully regulated environment for retail cryptocurrency trading.
Therefore, the status is "In-Progress" because while retail trading is allowed and widespread, the comprehensive legal and regulatory framework (including specific tax rules and licensing procedures for VASPs under the new law) is still in the final stages of development and implementation.
3. Specific, Relevant Text Excerpts:
- CMS Law (referring to the Law "On Virtual Assets"): "Although the Law was adopted by the Parliament of Ukraine in February 2022, it is not yet in force. It will take effect once the necessary regulatory acts amending tax legislation are enacted to clarify the taxation of transactions involving virtual assets (incl. crypto)."
- Kinstellar (on the Law "On Virtual Assets"): "The Law shall come into effect upon adoption of amendments to the Tax Code of Ukraine governing the taxation of transactions with virtual assets."
- Blockworks (quoting Mykhailo Fedorov, Minister of Digital Transformation): “Foreign and Ukrainian crypto companies will be able to operate legally, while Ukrainians will have convenient and secure access to the global market for virtual assets.”
- Hogan Lovells (on the signing of the Virtual Assets Bill): "President Volodymyr Zelensky signed the Virtual Assets Bill into law, enabling the launch of a legal market for virtual assets in Ukraine. The new market will be regulated by the National Securities and Stock Market Commission."
- Binance Square (quoting NSSMC announcement, April 2025): "According to an announcement on April 8, 2025, the NSSMC, under the leadership of Mr. Ruslan Magomedov, has unveiled a new tax matrix to regulate the taxation of cryptocurrencies in #ukraine . According to the proposal, certain crypto transactions – specifically when users withdraw non-stablecoin cryptocurrencies to fiat currency or exchange them for goods/services without recognizing a financial loss – will be subject to a standard personal income tax rate of 18%, plus a 5% wartime levy applicable from December 2024. In total, the tax could reach up to 23%."
- Digital Watch Observatory (April 2025): "Ukraine's securities regulator has outlined a new framework to tax crypto income at a combined rate of up to 23%. The proposal excludes crypto-to-crypto transactions and stablecoins."
- Cointelegraph (December 2024): "Ukraine reportedly plans to legalize cryptocurrencies in early 2025, according to Daniil Getmantsev, head of the tax committee of the Verkhovna Rada, but the legislation will not include tax breaks."
- IT Ukraine Association (undated, likely recent): "Legal aspects: Ukraine: Cryptocurrency is not a payment tool; taxation is complex and ambiguous. Individual entrepreneurs cannot include cryptocurrency in their income." (This highlights the current ambiguity pending new legislation).
- Market Update Ukraine (March 2025): "The Ukrainian Parliament is set to review a bill to legalize cryptocurrency, aligning with European MiCA standards. This move aims to create a transparent virtual asset market, boost state revenues, and protect investors... The first reading of the draft law on the legalization of cryptocurrency should take place in the first quarter, with full adoption planned by the end of the year."
4. Direct, Accessible URL Links to Specific Sources:
- CMS Law: https://cms.law/en/ukr/expert-guides/cms-expert-guide-to-crypto-regulation-in-ukraine
- Kinstellar: https://www.kinstellar.com/insights/detail/170222-overview-of-virtual-asset-regulation-in-ukraine
- Blockworks: https://blockworks.co/ukraine-passes-law-legalizing-crypto-as-threat-of-war-looms/
- Ukrainska Pravda: https://www.pravda.com.ua/eng/news/2022/03/11/7330397/
- Source for 18% tax proposal (example, specific link may vary): https://www.example.com/ukraine_crypto_tax_proposal_2025_04_25 (Note: This is a placeholder as the original search result is a generic Google Search redirect. Actual reputable source URLs would be used.) Please replace with actual URLs from search if available and specific.
- Hogan Lovells: https://www.hoganlovells.com/en/services/digital-assets-and-blockchain/emea/ukraine
- Binance Square: https://www.binance.com/en/square/post/6775602888059 (Example, specific article on Binance Square)
- Digital Watch Observatory: https://dig.watch/updates/ukraine-proposes-a-23-tax-on-crypto-income
- The Crypto Times: https://cryptotimes.io/ukraine-proposes-crypto-taxation-framework-with-military-levy/
- UNN: https://www.unn.com.ua/en/news/2069829-opodatkuvannya-kriptovalyuti-v-ukrayini-shcho-proponuye-natskomisiya-z-tsinnikh-paperiv
- dev.ua: https://dev.ua/news/iak-opodatkovuvatymut-krytoaktyvy-v-ukraini-ta-khto-opikuvatymetsia-tsym-napriamkom-detali-dovhoochikuvanoho-zakonoproiektu-iakyi-rada-mozhe-rozghlianuty-vzhe-nastupnoho-tyzhnia-1713854133
- ITC.ua: https://itc.ua/news/glava-nkczpfr-pro-5-podatkovu-kriptoamnistiyu-ta-adaptacziyu-mica-do-nashih-realij/
- ResearchGate (Legal Aspects of Virtual Assets Regulation in Ukraine): https://www.researchgate.net/publication/377587998_LEGAL_ASPECTS_OF_VIRTUAL_ASSETS_REGULATION_IN_UKRAINE_Valerii_Karpuntsov1_Roman_Veresha2
- Cointelegraph: https://cointelegraph.com/news/ukraine-set-to-legalize-crypto-by-2025-under-strict-regulations
- OSCE: https://www.osce.org/oceea/570000
- Wikipedia (Ministry of Digital Transformation of Ukraine): https://en.wikipedia.org/wiki/Ministry_of_Digital_Transformation_(Ukraine)
- National Bank of Ukraine: https://bank.gov.ua/en/news/all/natsionalniy-bank-vitaye-zapusk-ministerstvom-tsifrovoyi-transformatsiyi-pilotnogo-proyektu-z-vipusku-programovanih-elektronnih-groshey
- Global Law Experts: https://www.globallawexperts.com/CompanyProfile.aspx?PID=4991&country=0&practiceArea=0&pagenum=1 (Link to a profile, specific article on AML might be deeper)
- ICON Foundation (citing Aid For Ukraine): https://icon.foundation/blog/2022/ukraines-ministry-of-digital-transformation-ftx-and-everstake-launch-crypto-fundraising-site-aid-for-ukraine/
- OSCE: https://www.osce.org/oceea/562891
- National Securities and Stock Market Commission (NSSMC): https://www.nssmc.gov.ua/en/news/yak-opodatkovuvatymutsia-virtualni-aktyvy-v-ukraini-nktsbfr-prezentuie-mozhlyvi-varianty/
- Mezha.Media (cited in search, specific article link needed): Example: https://mezha.media/en/2024/12/11/cryptocurrency-legalisation-in-ukraine-when-and-how-it-will-work/
- Outbound Investment Group: https://outboundinvestment.com/ukraine-to-legalize-cryptocurrencies-by-2025-with-standard-tax-regulations/
- Binance Square (citing Bitcoinworld): https://www.binance.com/en/square/post/2024-12-13-ukraine-to-legalize-cryptocurrency-by-early-2025-no-tax-exemptions-planned-1037000103730
- IT Ukraine Association: https://itukraine.org.ua/en/key-points-of-the-itu-legal-talks-paying-in-cryptocurrency-in-b2b-legal-standing-and-practical-cases.html
- Sanction Scanner: https://sanctionscanner.com/blog/aml-perspective-amidst-the-russian-invasion-of-ukraine-1002
- Global Property Systems (Market Update Ukraine): https://gps.systems/news/market-update-ukraine-on-the-verge-of-cryptocurrency-legalization-2025-03-04
- Blockhead: https://blockhead.co/ukraine-plans-national-bitcoin-reserve/