Another country recognizes the legalization of cryptocurrency

Source: Danilo Hetmantsev, Chairman of the Ukrainian Parliament’s Committee on Finance, Taxation and Customs Policy, speaking at the Domestic Investment Opportunities Forum of the Economic Truth newspaper.

Quote: "If we are talking about cryptocurrency, the [Parliament] working group is finalizing a draft law for a first reading. I believe that the text prepared in cooperation with the National Bank and the International Monetary Fund will be ready after the New Year. Our goal is to pass this law and legalize cryptocurrency in the first quarter of [2025]," he said.

Hetmantsev noted that cryptocurrency will not be tax-exempt. Taxation will follow the model of securities, and when assets are converted to currency, profits will be taxed.

Quote: Hetmantsev explained: "After consultations with European experts and the International Monetary Fund, we take a very cautious approach to tax exemption for cryptocurrency, as it may facilitate tax evasion in traditional markets."