Ukraine Advances Cryptocurrency Legalization with New Regulatory Framework

Ukraine's parliament, the Verkhovna Rada, has taken a decisive step toward cryptocurrency legalization, passing the first reading of a bill with overwhelming support. The legislation, backed by 246 votes, introduces an 18% tax rate on crypto transactions and a 5% levy on profits, signaling a structured approach to digital asset integration.

The bill includes a temporary 5% tax rate for fiat conversions during its first year, aiming to ease the transition for market participants. This MOVE aligns with Ukraine's broader strategy to foster innovation despite ongoing geopolitical challenges.

Regulatory clarity could accelerate institutional adoption and strengthen Ukraine's position in the global digital economy. The legislation now awaits its second reading, with implementation expected in the coming months.