Ukraine plans to legalize cryptocurrency by early 2025
According to the "Ukraine Pravda", it is expected that by the first quarter of 2025, cryptocurrency will be legalized in Ukraine, but it is unlikely to offer tax relief. Danylo Hetmantsev, Chairman of the Ukrainian Parliament's Finance, Tax and Customs Policy Committee said: "Regarding cryptocurrencies, a parliamentary working group is completing a first reading of a draft law. I believe that the case text developed in cooperation with the National Bank and International Monetary Fund (IMF) will be ready after New Year. Our goal is to pass this law and legalize cryptocurrency in the first quarter of 2025." Hetmantsev also stated that "cryptocurrencies will not be tax-exempt; taxation will follow securities model where profits are taxed when assets are converted into currency. After consulting with European experts and IMF, we have taken a very cautious attitude towards exempting cryptocurrencies from taxes because this could exacerbate tax evasion behavior in traditional markets."
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