Danylo Hetmantsev, chairman of the Verkhovna Rada’s Tax Committee, told the EP’s forum “Prospects for Domestic Investment” that Ukraine may legalize cryptocurrency as early as early 2025.

“Speaking of cryptocurrencies, the working group is finalizing the draft law for the first reading. I think we will have the text together with the National Bank and the IMF after the New Year, and in the first quarter we will adopt this bill and legalize cryptocurrencies,” he said.

Unfortunately, there are no tax benefits for cryptocurrencies. Taxation will be similar to securities – the tax will be levied on profits when assets are converted into currency.

“In consultations with European experts and the IMF, we are very cautious about using cryptocurrencies for tax benefits as a possibility of tax evasion in traditional markets,” Hetmantsev said.