Ukraine Debuts Proposed Legislation for Cryptocurrency Oversight
A new bill focusing on cryptocurrency regulation, authored by Ukraine’s Digital Transformation Minister Mykhailo Fedorov, has been officially registered in the nation’s supreme legislative body, the Verkhovna Rada.
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A new bill focusing on cryptocurrency regulation, authored by Ukraine's
Digital Transformation Minister Mykhailo Fedorov, has been officially
registered in the nation's supreme legislative body, the Verkhovna Rada.
Key aspects of the proposed legislation include:
- Legalizing digital assets in line with the European Union's MiCa standards;
- Implementing
a tiered tax regime for individual cryptocurrency gains, starting with
5% for three years, then 9% for five years, before settling at 18%; - Applying an 18% tax rate for businesses providing virtual asset services;
- Proposing two taxation models for Diia.City companies: an 18% standard rate or a 9% tax on capital outflow.
The
bill is currently a proposal and awaits thorough examination and the
Ukrainian parliament's decision, which might hold a different view on
the country's cryptocurrency market regulation.
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