The National Securities and Stock Market Commission of Ukraine (NSSMC) has proposed a model for cryptocurrency taxation. This was announced by the head of the regulator, Ruslan Magomedov.
The initiative was presented at a meeting of the Verkhovna Rada Committee’s working group. The framework outlines the taxation process for digital assets across three key areas: personal income tax, corporate profit tax, and VAT.
According to Magomedov, the proposal was developed “based on the experience of other countries.” He also mentioned active work on the corresponding bill.
“For several years, members of parliament debated this issue until the Commission’s team took the lead. Finally, progress is being made,” noted the NSSMC chairman.
Magomedov identified the “formation of economically balanced and healthy conditions that will be comfortable for everyone” as the current top priority.
Details of the proposed taxation mechanism have not yet been disclosed.
In December 2024, the International Monetary Fund postponed the deadline for developing updated legislation on the regulation of virtual assets in Ukraine to the end of February 2025. The responsibility for drafting the regulatory document remains with the NBU and NSSMC.
The implementation of the law “On Virtual Assets,” approved in 2021, has been delayed until the adoption of cryptocurrency taxation.
According to the new bill, Ukraine will abolish tax incentives for bitcoin transactions. The document is expected to be adopted in the first half of 2025.
The task of developing new cryptocurrency regulations is included in Ukraine’s National Revenue Strategy for 2024-2030 and in the €50 billion reform list.