Ukraine Aligns Crypto Legislation with EU Requirements
Ukraine's government representatives have addressed concerns from the crypto community regarding taxation, banking, and decentralized finance (DeFi). The National Securities and Stock Market Commission (NSSMC) Chairman Oleksii Semeniuk and Project Office chief legal counsel at the Ministry of Digital Transformation Dmytro Mykolaievskyi joined a livestream hosted by Incrypted to discuss these issues.
The main goal of crypto legislation in Ukraine is to align with EU requirements, not to develop Web3, said Semeniuk. The taxation of digital assets was also discussed, with Mykolaievskyi stating that the expected tax regime will be the same as for other sectors. Individuals would face an 18% rate on profits for the reporting period, plus a military levy.
The participants also touched on how banks interact with crypto users and the possibility of using crypto assets to pay for goods and services. Mykolaievskyi stated that in Ukraine, crypto assets are not planned to be used as a direct means of payment, but an authorized service provider will convert the crypto asset into hryvnia.
Semeniuk noted that a complete answer to how crypto users interact with banks requires the position of the National Bank of Ukraine. He also confirmed that crypto exchange offices will be able to operate legally after obtaining the relevant license.