Ukraine Aims to Legalize Cryptocurrency by Summer

According to Odaily, Ukrainian senior lawmaker Danylo Hetmantsev announced that Kyiv is expected to "legalize" cryptocurrency by this summer, with the main text of the relevant bill fully prepared. Hetmantsev, who chairs the Finance, Tax, and Customs Policy Committee of Ukraine's Verkhovna Rada, stated that lawmakers are still discussing several issues, including how regulators and law enforcement will apply "financial monitoring" methods to cryptocurrency transactions. Additionally, the bill's designers must address tax-related matters before submitting the draft to the Rada. Hetmantsev noted that Kyiv will not offer any "bonuses or benefits" to companies and individuals using cryptocurrency. He explained that Kyiv has consulted with international experts on legalization issues, who believe that any "preferential regime" could impose an uneven tax burden on traditional industries using cryptocurrency. Kyiv plans to ensure that cryptocurrency transactions are subject to the same tax rates as other investment assets, adopting a standard tax rate system.