Ukraine is anticipated to legalize crypto in early 2025 and its taxation will observe the mannequin used for securities. That is in keeping with the Head of the Ukrainian Parliament Committee for Funds, Tax and Customs Coverage, Danylo Hetmantsev.
As reported by native outlet Ukrainska Pravda, a draft legislation on the taxing of digital asset transactions in Ukraine was registered within the nation’s parliament in November final 12 months. The adoption of this doc would mark a major step towards the legalization of cryptocurrencies in Ukraine.
Talking at a discussion board on home funding in Ukraine, Hetmantsev stated, “If we’re speaking about cryptocurrency, the [parliament’s] working group is finalizing a draft legislation for its first studying.
“I believe the text, developed in collaboration with the National Bank and the IMF, will be ready after the New Year. We aim to pass this law and legalize cryptocurrency in 2025’s first quarter.”
Hetmantsev additionally famous that crypto taxation will observe the mannequin used for securities. In different phrases, earnings can be taxed when property are transformed into forex.
“In consultations with European experts and the IMF, we are taking a very cautious approach to using cryptocurrencies for tax exemptions, as it could potentially facilitate tax evasion in traditional markets,” he defined.