The Verkhovna parliament, Ukraine, adopted the first reading of a bill on Wednesday to legalize and tax the cryptocurrency, according to the legislator Yaroslav Zhelezniak. If it was signed, the bill would considerably shape the economy of digital assets in the country, which ranks among the best in the world in adoption of cryptography.
According to Zhelezniak’s announcement on a telegram channel, the bill adopted the first reading with 246 legislators voted in support. The legislation project describes an income tax of 18% and a 5% military tax on the profits of digital assets. The bill also establishes a preferential tax rate of 5% on Fiat conversions its first year, according to the announcement.
The proposed tax rate of 23% complies with the April regulator recommendation of Ukraine. The initial recommendation has exempted Crypto-TO-Crypto and Stablecoins transactions, bringing the cryptographic tax system closer to Ukraine closer to cryptographic user countries.
“I don’t see much to go into details now, there will be many changes before second reading,” Zhelezniak said in a translated statement. “We still do not know who will be the regulator (NBU or the National Securities and Stock Exchange Commission).”
The Ukrainian Parliament has advanced cryptographic legislation this year while digital assets are gaining traditional traction. In June, the Verkhovna Rada presented a bill to establish a reserve of cryptographic assets and, in August, Cintelegraph learned that a tax bill would receive its first reading.
Ukraine ranks eighth in the world in the global index for the adoption of cryptography in 2025 in 2025. The country is particularly high in centralized value received in the retail and institutional sales categories, and also occupies the first place of the defined value – a sector gaining ground in Eastern Europe.
“A window of opportunity has opened its doors to attract investments in cryptography and the repatriation of foreign assets of ukrainian crypto enthusiasts,” said Volodymyr Nosov, CEO of European Crypto Exchange Whitebit, in Cointelegraph. “It is a key factor to revitalize the economy and modernize the market (…).”
Crypto tax discussions in the world
More and more countries weigh tax policies for cryptocurrencies as the asset class gains world acceptance. In the past year, Denmark, Brazil and the United States have each moved to tackle cryptographic taxation.
In October 2024, the Denmark Tax Law Council recommended a bill to collect taxes on unrealized cryptography gains. In his report, the Danish Minister of Tax declared that the approach of the bill would be a simpler way to impose the crypto. He is always considered a proposal.
In June 2025, Brazil moved to end an exemption from cryptography tax and impose a flat -rate tax rate of 17.5% on cryptography gains in the midst of government pressure to collect funds thanks to the taxation of the financial markets.
In July, representatives of the lower legislative chamber of the United States had to hold an audience on a framework for the taxation of cryptographic assets in the country.
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