Lawmakers have advanced a bill that would for the first time give cryptocurrencies legal standing while establishing a nationwide tax regime.
Under the proposal, crypto gains would be taxed at the same 18% rate applied to income, with an additional 5% earmarked for military support. To smooth the transition, a one-year grace period offers reduced taxation on conversions to local currency. Authorities have yet to decide which regulator will oversee the market, though both the central bank and the securities commission are being considered.
The move follows warnings from the Royal United Services Institute, which argued that Ukraine’s loose oversight has made it a magnet for illicit flows — from smuggling restricted military equipment to enabling foreign actors to funnel money into politics. Analysts cautioned that without reforms, Kyiv risks being branded a money-laundering hub at a time when it needs international financial support most.
Ukraine’s citizens are among the world’s most active in crypto markets, ranking in the global top ten and first in Eastern Europe, according to Chainalysis. That level of adoption, combined with the strains of wartime financing, has pushed lawmakers to treat crypto not as a fringe phenomenon but as an economic tool that must be taxed and supervised.
While the bill still requires revisions before a final vote, its momentum shows a clear shift: Ukraine now sees crypto not just as a grassroots financial workaround, but as an asset class that must be integrated into its formal economy and international partnerships.
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