Ukraine may legalize cryptocurrency in the near future, probably in the first quarter of 2025, but one should not count on preferential taxation conditions.
Danylo Hetmantsev, the head of the Verkhovna Rada tax committee, stated this during the Prospects for Investments within the Country forum, Ekonomichna Pravda reports.
"If we talk about cryptocurrency, the working group is completing 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 after the New Year and in the first quarter we will adopt this draft law, legalizing cryptocurrency," he noted.
Hetmantsev also emphasized that there will be no tax benefits for cryptocurrency. Taxation will be carried out according to the securities principle, that is, the tax will be levied on profits when assets are withdrawn into currency.
"In consultations with European experts and the IMF, we are very cautious about using cryptocurrencies for tax breaks, as a possibility of tax evasion in traditional markets," he added.
As the Ukrainian News agency earlier reported, Ukraine loses about USD 600 million in potential taxes annually due to the lack of crypto regulation.
Meanwhile, the National Bank of Ukraine does not consider cryptocurrency as a legal means of payment, but is working on legislative regulation of this market.
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