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Cryptocurrency will be legalized in Ukraine: what will change for digital assets owners

in Ukraine are preparing for the official legalization of cryptocurrency, which is planned to be approved by the year. Despite significant changes in financial regulation, no tax benefits for digital assets are provided. The drafting, which is developed, aims to create transparent conditions for the circulation of cryptocurrency, its taxation and control by the state. The chairman of the Committee on Finance, Tax and Customs Policy Danilo Getmantsev in the West “ New Economics: cryptocurrencies, CBD and Onlyfans ”, writes Iz.

told about it.Legislative initiatives include the mechanism of taxation of cryptocurrency transactions on the principle of investment income. This means that every digital asset owner will pay a tax on transactions. At the same time, the state plans to introduce financial monitoring of crypto -operation, which will prevent the illegal use of cryptocurrency and its use to laundering money. One of the most controversial issues is a transition period for existing crypto assets owners that may be obliged to declare their assets or pay additional tax.

The final decision has not been made in relation to the cryptor regulator. The National Securities and Stock Market Commission, which should be responsible for this area, does not have sufficient resources for effective control. Therefore, the option of transmitting functions of regulation of the National Bank of Ukraine is currently being considered. At the same time, there is a likelihood of a new specialized institution that will take over this control. If it is approved within the prescribed period, the owners of crypto assets will officially declare their income, make safe transactions and work with Ukrainian banks without the risk of blocking funds. However, increased control and introduction of taxes can cause discontent among a part of cryptoculture, which views cryptocurrency as a means of financial freedom.
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