The post Ukraine Prepares to Legalise Cryptocurreny in Q1, 2025 appeared on BitcoinEthereumNews.com.

According to the local news source, the Ukrainian government is preparing a bill to legalize cryptocurrency by next year.  The head of the Verkhovna Rada Tax Committee, Daniil Getmantsev revealed at the EP forum, saying “If we talk about cryptocurrency, the working group is completing the preparation of the relevant bill for the first reading. I think that the text together with the National Bank and the IMF will be after the New Year and in the first quarter we will adopt this bill, legalize cryptocurrency.”  No Tax Exemptions for Crypto in Ukraine However, Getmantsev disclosed that cryptocurrency will not receive tax exemptions. Instead, its taxation will align with the securities model, where profits are taxed upon converting assets into currency. “In consultations with European experts and the IMF, we are very cautious about the use of cryptocurrencies with tax breaks, as an opportunity to evade taxes in traditional markets,” Getmantsev explained. In November 2023, Ukraine’s parliament registered a draft law outlining the taxation framework for virtual asset transactions. The approval of this legislation represents the final step toward legalizing cryptocurrencies in Ukraine.  Last week, Russian President, Vladimir Putin stated that nobody can ban Bitcoin or other cryptocurrencies and it will develop in a way. While alliances like BRICS are exploring options to counter the dollar, the statement from Putin holds great significance.  Also Read: Is Russia Preparing to Create a Bitcoin Reserve Strategy? Source: https://www.cryptonewsz.com/ukraine-prepares-legalise-cryptocurreny-2025/

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Filed under: News - @ December 12, 2024 6:20 pm