Ukraine Parliament Approves First Reading of Crypto
TLDR
- Ukraine’s parliament passed a bill to legalize and tax cryptocurrencies, including 18% income tax.
- The new crypto taxation bill proposes a 5% military tax on digital asset profits.
- Ukraine ranks 8th globally in crypto adoption, making the bill a key economic move.
- The bill also introduces a temporary 5% tax rate on fiat conversions in its first year.
Ukraine’s parliament has taken a significant step toward legalizing cryptocurrencies with the passage of a new taxation and regulation bill. On Wednesday, the Verkhovna Rada passed the bill’s first reading with overwhelming support, with 246 out of 450 lawmakers voting in favor. This bill, known as the “Crypto Legalization and Taxation Bill,” aims to provide a…
