Verkhovna Rada, Parliament of Ukraine, passed the first reading of a bill to legalize cryptocurrency on Wednesday, According to To lawmaker Yaroslav Zhelezniak. If signed by the law, the bill would significantly shape the country’s digital asset economy, which is at the rank of the world’s top crypto.
According to Zhelezniak’s announcement on a telegram channel, the bill passed the first reading with 246 lawmakers who voted in support. The law draft outlines a income tax of 18% and a military tax of 5% in the digital asset income. The bill also sets a 5% tax rate on FIAT conversions in the first year, according to the announcement.
The proposed tax rate of 23% is consistent with April Ukraine’s financial regulator recommendation. The preliminary recommendation has set up crypto-to-crypto transactions and stablecoins, which bring the Ukraine crypto tax system closer to crypto-friendly countries.
“I don’t see many points going to detail today, many changes before the second reading,” Zhelezniak said in a translated statement. “It is still unknown who will be the regulator (NBU or the National Securities and Stock Market Commission).”
Parliament of Ukraine is promoting crypto law this year as digital assets are gaining major traction. In June, the Verkhovna Rada A bill was introduced In order to establish a crypto asset reserve, and in August, Cointelegraph learned that a Tax tax will receive Its first reading.
Ukraine rank of eighth Worldwide in the 2025 Global Global Crypto Adoption Index. Country marks particularly high in centralized value received in both retail and institutional categories, and also holds a leading place in the Defi’s received value – a sector Taking traction in Eastern Europe.
“A window of opportunity has been opened for attracting crypto investments and repeating foreign assets of Ukrainian crypto enthusiasts,” Volodymyr Nosov, CEO of European Crypto Exchange Whitebit, told cointelegraph. “This is a major factor for economic change and market modernization (…).”
Crypto tax discussions worldwide
Many countries weigh tax policies for cryptocurrencies because the asset class is gaining global acceptance. Last year, Denmark, Brazil and the United States each moved to meet the crypto taxation.
In October 2024, the Denmark Tax Council recommended a bill to Levy tax on unlucky cries of crypto. In his report, the Danish tax minister said the approach of the bill would be a simpler way to tax crypto. It is still considered a proposal.
In June 2025, Brazil Moved to end a Crypto tax exception and impose a 17.5% flat tax rate on crypto acquisitions in the middle of pushing a government to raise money by taxing financial markets.
In July, representatives in the lower US legislative room is set to handle In a plot for taxing crypto assets in the country.
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