Rada began to adjust the cryptocurrencies market

Cryptocurrencies can be legalized by paying taxes to 18% of income tax and 5% of military fees from income from the sale of virtual ownership.

Verkhovna Rada voted for the first reading for Bill No. 10225-D, which adopted amendments to the tax code to adjust the transfer of virtual properties to Ukraine. This was announced by People’s Deputy Yaroslav zheleznyak.

The corresponding document is supported by 246 representatives.

Taxes are at a level of 18% personal income tax +5% of the military charge from income from the sale of virtual ownership. At the same time, in the first year of the law, a preference rate of 5% of personal income tax will be valid.

“Who is the regulator (NBU or NKCPF) is still unknown,” the citizen’s representative.

However, Zheleznyak noted that through a second reading the project could change dramatically.

As head of the Parliamentary Committee on Finance, Tax and Customs policy specified by Danilo Getmans, the bill provides for:

• Determination of a virtual possession – This is a special type of digital object (owner), which exists in electronic form due to the technology of the shared register (blockchain).

The project divides all virtual ownership into three main categories:

1. Tokens with a binding to the property -their value is stabilized by binding to possessions such as money or ownership;

2. Electronic currency tokens – tied to an official currency;

3. Other virtual possessions are a category that covers possessions that do not belong to the first two types. A model suggests this according to which the regulator will determine what kind of virtual properties (except for tokens with binding to assets and electronic money tokens) will be linked to this category.

4. VA ownership is obtained by the court’s issue, transaction, law or decision and confirmed by the owner of accessible funds such as cryptographic keys. The law provides for the assumption of legitimacy of ownership, unless provided by the court.

5. VA public proposal requires the implementation of the white book – a document with detailed information on ownership, release and risks. Entering trading on trading floors is also controlled by clear methods, including the permission and disclosure of information.

6. The White Book is a mandated document for a public proposal, which should be true, clear and uninhabited. Marketing messages should comply with this information, contain risk warnings and not spread until the publication of the white book.

7. Suppliers of services related to VA transfer (storage, trade, transfer, etc.) must undergo permission, comply with organizational and financial requirements and provide customer protection.

8. Protection of owners of property and customers through transparency, disclosure of information and measures against insider trade, market manipulation and illegal disclosure of information.

9. The issue of taxation is determined. It is a very important aspect, as it is certainly due to tax issues that previous law has not earned in virtual assets.

Offered:

1) In the tax income tax:

• Conduct a separate (from other income and other investment income) taxation of income from operations along with VA;

• The income is taxed from VA transactions, received within the year, as the difference between income from sale and the costs of VA acquisition within the year;

• An individual must be able to unite to declare income and pay taxes;

• Don’t Tax:

• income from exchange transactions for other VAs, as well as income from VA sale within the same minimum wage;

• VA costs obtained as a result of their issue (creation) or stunning delivery from their emitters or offers and/or received exclusively in exchange for an individual’s personal data;

• Losses received in recent times (if they sell cheaper than purchased – this is a dangerous market), consider their payment (with some exceptions);

• For VA, obtained before entering the force of this law, in the case of their sale during 2026, individuals will have the right to choose a personal income tax rate preference – 5%;

2) For income tax of legal creatures:

• New differences have been introduced for financial results (similar to how security operations are taxed);

• The list of costs considered in the implementation of operations along with the VA will be determined by the Ministry of Finance in the presentation of the regulator;

3) For the amount of the added tax:

is not a matter of VAT taxation:

• Operations for production (release), placement in any form of management, sale, exchange, payment of virtual ownership, except:

• NFT sale and exchange;

• VA sale and exchange, which confirms the right to request the transfer of property or the provision of services;

• service providers related to VA transfer services (other than consulting services subject to the general basis);

4) In a simplified taxation system:

• Those who pay a forbidden VA tax operation;

• Suppliers of services related to VA transfer do not have the right to use a simplified taxation system.

5) In terms of administration:

• Suppliers of services related to VA transfer, which provides services to Ukraine residents, are required to register with regulatory authorities and submit an annual report to transactions including VA to individual and legal creatures of Ukraine residents (this is a step toward the gradual implementation of the carf and the implementation of the DAC8 Directives);

• For failure to fulfill these duties, fines are provided for suppliers of VA-related services, which will be used in decreased dimensions during the transfer (in 2026-10% of the established fine size, 25% of the established fine size during 2027-2029).

It is assumed that changes in the tax code will enter the power on January 1, 2026.

We are talking about promoting bright game policies for market participants. He added that crypto legalization could have a significant impact for the budget that included a global ledger study on the tax potential, if the crypts market was legalized earlier, more than 8.34 billion of UAH taxes from crypto-country (at rate of 18%) and up to 6.53 million) and up to 6.53 billion Receive. Uah from the taxation of citizens’ income.

Virtual Assets (VA) are not money and cannot be used as an official payment tool in Ukraine. Their legal regime is near the regime of transferred -transferred regime in terms of civil law. At the same time, the editors suggested for the first reading provide for the recognition of electronic currency tokens with electronic currency in understanding Ukraine’s law “in payment services”.

Earlier it was reported that Ukraine was preparing a comprehensive law on virtual possessions, providing for the introduction of taxes with cryptocurrencies.

Also, the financial committee head Danilo Getmans said that “within the year, a person can sell and announce his income from crypto assets at the rate of 5% without confirming the costs of their acquisition in the past.”

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