PANews reported on December 12 that according to the Chairman of the Ukrainian Tax Committee, Daniel Hertmantsev, Ukraine is expected to pass relevant bills in the first quarter of 2025 to formally legalize cryptocurrencies. Despite this, cryptocurrencies will be taxed according to the securities model, and the profits from converting assets into legal currency will be taxed, without providing tax incentives. Hertmantsev said that this move was made after consultation with European experts and the International Monetary Fund (IMF) to prevent the use of cryptocurrencies to evade traditional market taxes.