Historic Crypto Legislation Reaches Parliamentary Stage

Ukrainian lawmakers are preparing for a pivotal vote on comprehensive cryptocurrency regulations before August concludes. This legislative push marks a significant step toward formalizing the country's digital asset framework after years of regulatory uncertainty.

Taxation Framework Takes Shape

The proposed bill introduces a two-tier tax structure for crypto holders seeking to legalize their assets. Individuals would pay 5% income tax plus 5% military duty—a compromise between revenue generation and encouraging compliance. Finance committee chair Danylo Hetmantsev confirmed the bill's final drafting stage, with parliamentary review expected imminently.

From War-Time Measures to Formal Policy

Ukraine's crypto journey accelerated during the 2022 conflict when the government legalized exchanges to facilitate international donations. However, progress stalled on comprehensive taxation until last December's proposal to treat crypto similarly to securities. The current bill represents the most concrete effort yet to establish clear rules.

Regional Crypto Hub Ambitions

Eastern Europe has witnessed 【$499 billion】 in crypto transactions recently, with Ukraine positioned to capitalize on this growth. The legislation aligns with broader European standards while addressing local needs—including provisions for the National Bank to hold Bitcoin reserves. Ukraine currently ranks as the 【fourth-largest】 government BTC holder globally.

Balancing Innovation and Oversight

——"This framework demonstrates our commitment to becoming a blockchain leader while maintaining financial stability,"—— noted a government spokesperson. The bill excludes stablecoins from proposed 23% transaction taxes, signaling nuanced policy-making for different asset types.

Global Context

Ukraine joins a small group of nations formalizing crypto reserves, following recent moves by the U.S. and Kazakhstan. As the Verkhovna Rada prepares for this landmark vote, the international crypto community watches closely—aware that Eastern Europe's regulatory landscape may be reshaped by Kyiv's decisions.