Ukraine’s parliament has approved the first reading of a bill to legalize and tax cryptocurrency.
Ukraine’s Verkhovna Rada passed the draft law on crypto taxation with 246 votes in favor during Wednesday’s session. Under the proposal, income from digital assets would be subject to an 18% income tax and a 5% military tax. Additionally, a preferential 5% tax rate on fiat conversions would apply in the first year, aligning with earlier recommendations by the country’s financial regulator.
Lawmakers emphasized that the bill could undergo significant changes before the second reading. MP Yaroslav Zhelezniak noted that it remains unclear which body will oversee implementation — the National Bank of Ukraine or the National Securities and Stock Market Commission.
According to Chainalysis’ 2025 Global Crypto Adoption Index, Ukraine ranks 8th worldwide, with strong activity across centralized exchanges and DeFi platforms. Industry figures suggest the new framework could attract investment and encourage Ukrainian investors abroad to repatriate funds. Globally, crypto taxation is also gaining traction, with countries like Brazil, Denmark, and the U.S. advancing their own frameworks, underscoring digital assets’ growing role in fiscal policy.
