According to the Ukrainian Law "On Virtual Assets", Ripple ($XRP ) is classified as a virtual asset that can be used for payments, investment or exchange. Main aspects of XRP status in Ukraine:
1. Classification of XRP
XRP falls into the category of "intangible assets" with financial value that can be used for economic transactions.
If integrated with the MICA Act in the future, XRP as a payment token may receive specific regulatory restrictions or requirements.
2. Legality
XRP is legal for circulation in Ukraine if its transactions are carried out through registered virtual asset service providers (VASPs).
The use of XRP for payments is possible, but only under the condition of compliance with financial monitoring legislation.
3. Taxation
According to draft amendments to the Tax Code, income from operations with XRP, as with other virtual assets, may be taxed:
18% personal income tax (personal income tax).
1.5% of the military levy.
This mechanism applies to both individual investors and legal entities.
4. Regulatory base
XRP has a real chance to gain recognition as a "means for international payments" because Ripple works with banking institutions. In this case, the National Bank of Ukraine may establish additional rules for its use.
5. Prospects and risks
Prospects: Ripple already cooperates with regional banks in the world, so the use of XRP in Ukraine can facilitate cheaper and faster international transactions.
Risks: Uncertainty regarding the legal status of Ripple in the USA (case with the SEC) may affect its reputation in Ukraine.
Ukrainian legislation is gradually adapting to European standards, in particular MICA, which may create clearer rules for tokens like XRP. However, integration into the national economy depends on specific decisions of regulators and adaptation of the banking sector.
