In the Verkhovna Rada, a draft law on the legalization of cryptocurrency was passed in the first reading

The Verkhovna Rada has supported in its first reading draft law No. 10225-d on the legalization and taxation of cryptocurrency in Ukraine.

This was reported by MP Yaroslav Zheleznyak.

“Taxes will be standard (18% + 5%) on profits, and in the first year there will be a preferential rate of 5% when converting into fiat. Who the regulator will be is still unknown,” Zheleznyak wrote.

Earlier, a report from the National Bank noted a decline in money transfers to Ukraine, which financial analysts link, among other factors, to the growing use of cryptocurrency.

“We said that restrictions on money transfers for the population and stricter financial monitoring under pressure from the National Bank would lead to this — and now we are reaping the consequences. People are switching to crypto. They open accounts/cards mainly in Poland, where cryptocurrencies are not banned and are increasingly in use. There are no restrictions there and no need to explain anything, unlike in Ukrainian banks, where accounts are more and more often blocked or forcibly closed. Banks cannot act otherwise — this is required by the NBU. And the remittance market is shifting from the white zone to the gray,” said the treasury director of a major bank.