Ukraine to Legalize Cryptocurrencies by 2025, Aiming for Transparency and Stability
Ukraine plans to legalize cryptocurrencies by early 2025, introducing regulations focused on taxation and financial stability, but without offering tax breaks. The new law, developed with input from the National Bank of Ukraine (NBU) and the International Monetary Fund (IMF), aims to tax crypto-to-fiat transactions similarly to securities trading while ensuring compliance with anti-money laundering (AML) standards.
Daniil Getmantsev, head of the parliamentary tax committee, emphasized that crypto tax exemptions were rejected to prevent misuse and align with global practices. A working group is finalizing the draft law, which is expected to reach parliament for a vote in early 2025.
Amid ongoing conflict with Russia, Ukraine sees cryptocurrencies as a lifeline for financial resilience. Digital assets have supported cross-border transactions, bypassing disrupted banking systems and raising nearly $70 million for defense and humanitarian aid in 2023.
Ukraine’s push for crypto legalization mirrors global trends. While Russia recently tightened crypto mining in occupied regions, it has eased domestic crypto taxes. Meanwhile, Morocco is drafting regulations to replace its crypto ban, and Argentina is exploring Bitcoin payments by 2025.
By integrating cryptocurrencies into its economy, Ukraine aims to strengthen financial transparency and stability, turning digital assets into a tool for both innovation and crisis management.
Featured image from: euronews.com