The Verkhovna Rada was recommended to consider the Law on Crypto Activities

The Virtual Assets have passed the tax committee and recommended for first reading. The chairman of the committee Danylo Getmantsev reported about it.

General provisions The project divides all virtual assets (VA) into three categories:

• tokens with attachment to assets such as currency or property;
• electronic money tokens – tied to one official currency;
• Other VAs that do not belong to the first two types.

In the current version, the authors of the bill propose to identify electronic money with electronic money in the sense of the Law on Payment Services. However, VA is not considered money and cannot be used as an official payment in Ukraine.

The acquisition of ownership of crypto assets is possible through the issue, agreement, law or court decision, which is confirmed by the possession of cryptographic keys. The bill provides for the presumption of the validity of possession unless otherwise established by the court.

The public offer of VA requires a mandatory design of the White Book – a document with detailed information about assets, issuers and risks. Admission to trading provides authorization and disclosure.

Suppliers of services related to the circulation of VI (storage, trade, transfer, etc.) must also be authorized, meet organizational and financial requirements and provide protection of clients.

Taxes From the personal income tax it is proposed to keep a separate (from other income and other investment profit) taxation of income from transactions with VA.

The object of taxation will be made during the year profit from transactions with virtual assets – the difference between income from sales and the expenses for their purchase.

The tax burden is exempted:

• income from Crypto-to-Crypto exchange operations, as well as from the sale of VA within one minimum wage;
• the cost of VA obtained as a result of their issue (creation) or free transfer from their issuers or actuators and/or obtained exclusively in exchange for personal data of the individual;
• losses received in previous periods, before their repayment (with some exceptions);
• For VA, acquired before the entry into force of this Law, in the case of their sale during 2026 individuals will receive the right to a preferential rate of PIT – 5%.

New differences are introduced from the income tax on legal entities to adjust the financial result by analogy with securities. The list of expenses that are taken into account when performing operations with VA will be determined by the Ministry of Finance on the submission of the regulator.

Operations on issue, placement in any forms of management, sale, exchange, repayment of virtual assets are not subject to VAT except:

• NFT sales and exchange;
• sale and exchange of VA, which certify the right to demand the transfer of property or provision of service;
• services of service providers related to the circulation (except for consulting services, which are taxed on a general basis).

Single tax payers are prohibited from VA operations. Virtual asset circulation service providers have no right to use a simplified tax system.

Administration Cryptocurrency companies operating in Ukraine are obliged to register in control bodies and submit an annual report on transactions on VA on individuals and legal entities that are residents of Ukraine.

Failure to comply with these requirements provides for penalties that will be applied in reduced size during the transition period (in 2026-10% of the established amount of the fine, in 2027-2029-25%).

The authorities expect that the amendments to the Tax Code have been operated from January 1, 2026.

It should be reminded that the entry into force of the Law on Virtual Assets approved in 2021 was postponed to the approval of crypto -operation.

According to the new bill, Ukraine will give up tax benefits on bitcoin operation.

The task of developing cryptocurrency regulation is included in the National Income Strategy of Ukraine for 2024-2030 and a list of reforms for € 50 billion.

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