TechFlow news, on December 12, according to Ukrainska Pravda, Ukraine plans to legalize cryptocurrency in the first quarter of 2025, but is unlikely to offer tax reductions. Danylo Hetmantsev, chairman of the parliamentary committee on finance, taxation, and customs policy, said: "Regarding cryptocurrency, a working group in parliament is finalizing the first reading of a draft law. I believe the text, developed in cooperation with the National Bank and the International Monetary Fund (IMF), will be ready after the New Year. Our goal is to pass this law and legalize cryptocurrency in the first quarter of 2025."
Hetmantsev also stated, "Cryptocurrency will not be tax-exempt. The taxation model will follow that of securities, with taxes levied on profits when assets are converted into fiat currency. After consultations with European experts and the IMF, we have adopted a very cautious approach toward allowing tax exemptions for cryptocurrency use, as this could exacerbate tax evasion in traditional markets."
