The Council supported the legalization of the cryptocurrency market in the first reading
фото: facebook Ruslan Stefanchuk
On September 3, the Verkhovna Rada adopted in the first reading bill No. 10225-d, regulating the circulation of virtual assets and determining the rules for their taxation.
246 people’s deputies voted for the document.
The bill provides for:
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basic taxes – 18% personal income tax + 5% military tax on profits;
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a preferential rate of 5% when converting to fiat during the first year of the law’s operation;
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uncertainty regarding the regulator – it could be either the NBU or the National Securities and Stock Market Commission.
The explanatory note states that the document is intended to:
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ensure legal certainty;
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protect market participants;
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harmonize Ukrainian legislation with EU standards, in particular with the MiCA regulation;
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implement control, reporting and taxation mechanisms to reduce the risks of abuse.
Let us recall that the bill on regulating digital currencies should be ready in the first quarter of 2025.
Earlier it became known that US President Donald Trump signed the long-awaited decree on the creation of a strategic reserve of cryptocurrencies . However, the market reacted quite unexpectedly – with a fall.
Bitcoin and other popular cryptocurrencies have reportedly come under pressure after Donald Trump imposed massive tariffs on the entire world, which has rocked the stock market.
By the way, Russian companies have started using Bitcoin and other cryptocurrencies for international payments . This became possible after legislative changes were made to counter Western sanctions.
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