BlockBeats news (December 12) reports that “Ukrainian Pravda” predicts cryptocurrencies will become legal in Ukraine by early 2025, but tax exemption is unlikely. Danylo Hetmantsev, Chairman of Ukraine’s Finance, Taxation, and Customs Policy Committee, stated: “The parliament’s working group is finalizing the first reading of a draft law on cryptocurrencies.
I anticipate that it will be formulated in collaboration with the National Bank and the International Monetary Fund (IMF). The draft will be ready after the new year. Our objective is to pass the legislation and legalize cryptocurrencies in the first quarter of 2025.” Hetmantsev added: “Cryptocurrencies will not be exempt from taxation; instead, they will be taxed similarly to securities, with profits subject to taxation when the assets are converted into currency.
After consulting with European experts and the IMF, we have adopted a cautious stance on granting tax exemptions to cryptocurrencies. This is to avoid escalating tax evasion in traditional markets.”
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