Ukraine will legalize cryptocurrencies in early 2025, but without tax benefits - Getmantsev

Ukraine is likely to legalize cryptocurrencies in the first quarter of 2025, but it is not worth counting on preferential taxation. This was stated by Danylo Hetmantsev, Chairman of the Verkhovna Rada Tax Committee, at the EP forum "Prospects for Investment in Ukraine".

"Speaking of cryptocurrencies, the working group is finalizing the preparation of the relevant draft law for the first reading. I think that the text, together with the National Bank and the IMF, will be ready after the New Year, and in the first quarter we will adopt this bill and legalize cryptocurrency," he said.

According to him, there will be no cryptocurrency tax exemptions. It will be applied according to the securities model, i.e., profits will be taxed when assets are withdrawn into foreign currency.

"In consultations with European experts and the IMF, we are very cautious about the use of cryptocurrencies for tax benefits as a possibility of tax evasion in traditional markets," Hetmantsev explained.

Artur Kryzhnyi