# The legalization of cryptocurrencies in Ukraine has passed its first reading.
On September 3, the Verkhovna Rada of Ukraine approved in the first reading the draft law No. 10225-d "On Virtual Asset Markets", which will define the status and taxation of cryptocurrencies in the country. 246 deputies voted for the adoption of the document.
Source: Telegram channel "Iron Narodny Deputy".The object of taxation will be the profit received from operations with virtual assets during the year — the difference between income from sales and expenses for their acquisition. It is included in the total taxable income at a rate of 18%. In the first year of the law's operation, the preferential rate for fiat exit will be 5%.
Not subject to taxation:
income from the exchange operations of VA for other virtual assets;
the amount of income from the sale of VA, if it does not exceed the size of one MROT established as of January 1 of the reporting year;
the cost of VAs obtained as a result of their emission, in exchange for personal data or free of charge.
The regulation and supervision of activities in virtual asset markets will be carried out by the National Bank and a separate yet to be determined regulator.
The last one will receive broad powers:
require any individuals or legal entities to provide information and documents that are important for supervision;
conduct field inspections and investigations;
gain access to premises and documents, except for the housing of individuals;
by court decision to freeze assets, impose a lien on property and/or funds.
According to MP Yaroslav Zheleznyak, multiple changes will be made to the document by the second reading.
Recall that in April, the tax committee reviewed the bill "On Virtual Assets" and recommended it for the first reading in the Verkhovna Rada.
Later, the Office of President Vladimir Zelensky blocked the consideration of the bill on regulating cryptocurrencies in the country.
According to experts, the legalization of the industry will bring $10 billion to Ukraine.
At the same time, the NBU has so far refused to create a bitcoin reserve in the country.
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The legalization of cryptocurrencies in Ukraine has passed its first reading.
On September 3, the Verkhovna Rada of Ukraine approved in the first reading the draft law No. 10225-d "On Virtual Asset Markets", which will define the status and taxation of cryptocurrencies in the country. 246 deputies voted for the adoption of the document.
Not subject to taxation:
The regulation and supervision of activities in virtual asset markets will be carried out by the National Bank and a separate yet to be determined regulator.
The last one will receive broad powers:
According to MP Yaroslav Zheleznyak, multiple changes will be made to the document by the second reading.
Recall that in April, the tax committee reviewed the bill "On Virtual Assets" and recommended it for the first reading in the Verkhovna Rada.
Later, the Office of President Vladimir Zelensky blocked the consideration of the bill on regulating cryptocurrencies in the country.
According to experts, the legalization of the industry will bring $10 billion to Ukraine.
At the same time, the NBU has so far refused to create a bitcoin reserve in the country.