{"id":15623,"date":"2025-03-01T05:31:57","date_gmt":"2025-03-01T05:31:57","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=15623"},"modified":"2025-03-01T05:31:57","modified_gmt":"2025-03-01T05:31:57","slug":"ukraine-could-take-until-2026-to-legalize-crypto-as-tax-debate-continues","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=15623","title":{"rendered":"Ukraine Could Take Until 2026 To Legalize Crypto As Tax Debate Continues"},"content":{"rendered":"
\n

Recent reports revealed that Ukraine\u2019s lawmakers \u201cremain debating\u201d crypto tax rates amid the government\u2019s push to legalize digital assets this year. An expert suggested that the upcoming bill could take longer than expected as the parliament considers lower taxation.<\/p>\n

Ukraine\u2019s Crypto Legalization Could Take Until Next Year<\/h2>\n

In a Thursday interview<\/a> with local news media, Taras Kozak, a member of Ukraine\u2019s securities regulator advisory group, shared new details on Ukraine\u2019s efforts to legalize cryptocurrencies this year, the potential timeline, and tax rates on digital assets\u2019 income.<\/p>\n

The expert disagreed with Danylo Hetmantsev, head of the Verkhovna Rada\u2019s Committee on Finance, Tax, and Customs Policy, who forecasted the bill would be passed in the coming months.<\/p>\n

On February 7, the lawmaker said<\/a> the government was working to ensure the crypto law was adopted by summer 2025. Hetmantsev added that the first draft would be \u201cready for a first reading in the first quarter\u201d of the year, followed by a second reading in Parliament. However, he noted that the lawmakers are still working on the details related to the crypto taxation measures.<\/p>\n

As reported<\/a> by Bitcoinist, Hetmantsev announced in December that the Parliament\u2019s working group was working alongside the National Bank and the International Monetary Fund (IMF) on a draft bill to be introduced in early 2025, aiming to legalize digital assets in the first half of the year.<\/p>\n

Kozak disagreed with the lawmaker\u2019s timeline, stating that crypto\u2019s legalization in Ukraine could take until next year. According to the report, the expert is optimistic that the long-awaited bill will pass all the readings in the Verkhovna Rada and be signed by the end of this year.<\/p>\n

Under this timeline, crypto would be legalized, and income from digital assets could be taxed starting in 2026.<\/p>\n

Lawmakers Debate Crypto Taxation<\/h2>\n

The expert affirmed that the final tax rate is key, as Ukrainian investors and businesses using crypto \u201care not against replenishing the state budget.\u201d According to Kozak, Ukrainians are willing to pay around a 5% tax on their crypto income, but the taxation cannot be delayed<\/a> anymore.<\/p>\n

Ukrainian President Volodymyr Zelensky signed the \u201cOn Virtual Assets\u201d law in March 2022, setting the legal framework for regulating the country\u2019s digital asset market. However, the law has not been implemented as it awaits amendments to the Ukrainian Tax Code.<\/p>\n

This\u00a0resulted in the loss of millions in potential tax revenue<\/a>, as the absence of regulations meant that exchanges had no legal obligations to pay taxes to the Ukrainian authorities for the revenue obtained from crypto assets.<\/p>\n

Kozak suggested implementing a small tax, \u201cfrom 5% to 10%. All citizen income should be taxed because our state lives on this money, our army fights, we buy weapons, and we maintain security,\u201d he stated.<\/p>\n

The report affirms the government is considering a standard rate of 18% on personal income plus a 5% military levy. Additionally, investors who can\u2019t prove their initial investments could face up to a 23% tax on their total holdings.<\/p>\n

Hetmantsev previously explained that tax exemptions won\u2019t be applied to digital assets as they are taking a \u201cvery cautious approach to using cryptocurrencies for tax exemptions\u201d after consulting with the IMF and European experts.<\/p>\n

\"crypto,<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Recent reports revealed that Ukraine\u2019s lawmakers \u201cremain debating\u201d crypto tax rates amid the government\u2019s push to legalize digital assets this year. An expert suggested that the upcoming bill could take longer than expected as the parliament considers lower taxation. Ukraine\u2019s Crypto Legalization Could Take Until Next Year In a Thursday interview with local news media, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-15623","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/15623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15623"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/15623\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}