During the first round mood the Ukrainian crypto -law

For the first time, the Ukrainian parliament read the bill on the legalization of the cryptocurrency with a tax key of 23%, because the country is suffering from a loss of $ 10 billion due to illegal turnover in the middle of the vulnerabilities of war.

The Ukrainian parliament has accepted 246 votes for the first reading of the bill, which introduces a tax rate of 23%on the profit of virtual assets, while they are dealing with critical shortcomings, making billions of illegal sales possible. The legislation proposes an 18%personal income tax and a 5%military tax for cryptocurrency profit, and in the first year of implementation, 5%rates for FIIS transitions.

The Yaroslav Gellazniak legislator confirmed the approval of the bill, but noted that there were important changes before the second reading. The regulatory and supervisory authority is not yet defined and can be decided between the National Bank of Ukraine and the national effects and stock market, while the details of enforcement require extra parliamentary approval.

Ukrainian legislation had to take action, because it is estimated that the country is dealing with a loss of at least $ 10 billion in stolen funds and tax revenues as a result of insufficient crypto regulation according to. The vulnerabilities of -van -stockmarkets and war times have made the country a growing center of money laundering and cyber crime.

Financial vulnerabilities of war result in legal urgency

Rusi warned that Ukraine would run the risk of further exploiting the exploitation of its financial system without urgent reforms and at the same time losing essential tax revenues.

Despite the fact that Ukraine adopted the Virtual Assets Act at the beginning of 2022, the framework did not carry out the framework due to a lack of tax decisions.

According to the EU test requirements, by the end of 2025, the country must coordinate the rules for cryptocurrencies with European standards, otherwise it may be due to downgrades of the status of the Financial Action Working Group (FATF).

Ukraine would also impose a military compensation for cryptocurrencies worth 5%, which would help to finance its defense efforts and at the same time develop extensive tax frameworks based on international examples.

The legislation contains preferential keys for certain categories, using a standard income tax for profit from virtual assets.

The parliament has previously submitted a bill to enable the National Bank of Ukrainian to keep Bitcoin and other cryptocurrencies in national reserves. The proposal would allow the Central Bank to make discretion about the timing, methods and volume of digital assets, without cryptocations.