PANews reported on December 12 that, according to Daniel Hetmantsev, chairman of the Ukrainian Taxation Committee, Ukraine is expected to officially legalize cryptocurrency through relevant legislation in the first quarter of 2025. Nevertheless, cryptocurrencies will be taxed according to the securities model, taxing profits from asset conversion into fiat currency, without providing tax benefits. Hetmantsev stated that this decision was made after consultations with European experts and the International Monetary Fund (IMF) to prevent the use of cryptocurrencies for evading traditional market taxes.