Odaily Planet Daily reported that Ukraine will legalize cryptocurrency in the first quarter of 2025, but it is unlikely to provide tax exemptions. Danylo Hetmantsev, chairman of the Ukrainian Parliament's Finance, Tax and Customs Policy Committee, said: "Speaking of cryptocurrency, the parliament's working group is completing the first reading of a draft law. I believe that the text, developed in cooperation with the National Bank and the International Monetary Fund (IMF), will be ready after the New Year. Our goal is to pass this law and legalize cryptocurrency in the first quarter of 2025. Hetmantsev also stated that "cryptocurrencies will not be tax-free, and the form of taxation will follow securities, taxing profits when assets are converted into currency. After consultation with European experts and the IMF, we have taken a very cautious approach to using cryptocurrencies for tax exemptions because this may exacerbate tax evasion in traditional markets."

#IMF