Bitcoin Market Regulation in Ukraine Included in €50 Billion Reform Plan

The Ukrainian government approved a reform plan under the Ukraine Facility program, which aims to secure €50 billion from the EU between 2024 and 2027.

The document includes provisions concerning the cryptocurrency market.

In the context of combating corruption and money laundering, Ukraine commits to aligning its local legislation with European standards and FATF norms regarding virtual assets, targeted financial sanctions, and investigations.

“Particularly important are the issues of ultimate beneficial ownership and supervision of certain enterprises and professions,” the document notes.

To counter illegal activities, the government emphasized the need to amend the relevant law “On Virtual Assets” in line with MiCA provisions and to implement cryptocurrency market taxation.

The Cabinet believes that effective regulation will enhance Ukraine’s investment appeal.

The work in this area is expected to be completed by the end of 2025.

Cryptocurrencies are also mentioned in the list of financial market reforms. Ukrainian authorities plan to improve the infrastructure of electronic finance and digital assets, drawing on European experience. There are also plans to expand the powers of the NSSMC.

Overall, the plan for the Ukraine Facility includes more than 150 indicators across 69 reform areas, with implementation scheduled until 2027.

The document has already been submitted to the European Commission for consideration. To come into effect, it must be approved by the committee of EU member states.

Earlier, ForkLog reported that Ukraine excluded preferential taxation for cryptocurrency transactions.