Ukraine Parliament Approves First Reading of Crypto Legalization Bill
Ukraine’s parliament has advanced a pivotal bill to legalize and tax cryptocurrencies, signaling a major shift in the country’s approach to digital assets. The legislation, approved in its first reading with 246 votes, introduces an 18% income tax and a 5% military levy on crypto profits. A temporary 5% rate on fiat conversions will apply during the first year, aiming to incentivize compliance.
The MOVE comes as Ukraine ranks eighth globally in crypto adoption, reflecting the sector’s growing economic significance. Regulatory clarity could position the country as a more attractive destination for blockchain innovation. Financial authorities have endorsed the proposed tax structure, which aligns with broader efforts to formalize the digital asset market.
