When will cryptocurrency be legalized in Ukraine — what is known
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The legalization of cryptocurrencies in Ukraine is expected to take place in the first half of 2025. However, it is worth noting that no tax benefits are expected as part of this process.
This was stated by Danylo Hetmantsev, Chairman of the Verkhovna Rada Committee on Finance, Taxation and Customs Policy, on the ASATrumps YouTube channel.
When can crypto be legalized in Ukraine
The People's Deputy said that currently, work is underway on a draft law aimed at legalizing cryptocurrencies in Ukraine.
"By the end of the year, the draft law will be developed in cooperation with the National Bank and the IMF. In other words, it is not even being drafted, but the one that is in our committee is being finalized. We will have a formal position on this draft law from the IMF experts. I believe that in the first or second quarter of next year, we will be able to legalize cryptocurrency and tax it accordingly," Hetmantsev said.
At the same time, he stressed that one should not expect any tax benefits for cryptocurrencies. Hetmantsev noted that it will be standard taxation, similar to how securities transactions are taxed, i.e. investment income will be taxed.
What else you need to know
As a reminder, in Ukraine, banks have started to massively block customers' cards after cryptocurrency transactions on P2P platforms, where payments are made between individuals' cards. Since this method is often used by fraudsters, banks may perceive such transactions as potentially related to fraudulent schemes.
We also mentioned that the Solana (SOL) cryptocurrency price has been actively attracting the attention of investors and analysts over the past two years. This is due to the impressive growth in the value of the asset and its potential to become one of the leading cryptocurrencies in the world. We know how Solana's exchange rate has changed, what has influenced its dynamics, and what experts are predicting for 2025.
