PANews reported on February 11 that according to Mezha.Media, Ukraine plans to officially legalize cryptocurrency by the summer of 2025. Danilo Gatmantsev, chairman of the Ukrainian Finance, Taxation and Customs Policy Committee, said that the main content of the relevant bill has been completed and transaction monitoring and tax policies are currently being discussed.

The government has made it clear that cryptocurrencies will not enjoy tax benefits and will be taxed as investment assets. In addition, for holders who cannot prove the source of funds for purchasing cryptocurrencies, they may need to pay taxes based on the amount held rather than profits after the bill comes into effect.

On the regulatory side, Gatmantsev said the National Bank of Ukraine (NBU) could become the initial regulator as the National Securities and Stock Market Committee of Ukraine (NSSMC) currently lacks regulatory capacity.

The bill is expected to undergo a first reading in the first quarter of 2025, with the goal of passing it by summer 2025 at the latest.