New Cryptocurrency Regulations in Ukraine: What Will Change for Asset Owners

In Ukraine, new cryptocurrency tax regulations are being prepared, and mandatory authorization for cryptocurrency exchanges and other market participants is planned. The profile committee of the Verkhovna Rada supported the revised draft law No. 10225-d on regulating the virtual assets market. According to MP Yaroslav Zheleznyak, who heads the working group preparing the document, the draft law is set to come into effect on July 1, 2027.

The profile committee of the Verkhovna Rada supported the revised draft law No. 10225-d on regulating the circulation of virtual assets in Ukraine.

As Zheleznyak noted, the decision was supported by 20 committee members. The document defines the tax rules for cryptocurrency transactions, allocates powers among state regulators, and establishes requirements for cryptocurrency exchanges and other market participants.

The draft law is expected to come into effect on July 1, 2027. Its consideration in the Verkhovna Rada will continue at the second reading, which, according to Zheleznyak, is planned for November.

How Cryptocurrency Transactions Will Be Taxed

One of the main changes concerns the taxation of income from transactions with virtual assets. The tax is planned to be calculated on profit—the difference between the costs of acquiring cryptocurrency and the income from its sale, rather than on the total amount of the transaction.

At the same time, transactions with virtual assets will be exempt from VAT. The exchange of one virtual asset for another will also not be taxed. Another proposed benefit is the exemption from profit taxation up to one minimum wage.

Separate conditions will be established for crypto assets acquired before the introduction of the new regulation. A transitional period until the end of 2028 is provided for them, during which a reduced personal income tax rate of 5% will apply.

Who Will Regulate the Market and What Requirements Will Be Introduced

The powers to regulate the virtual assets market will be divided between the National Securities and Stock Market Commission (NSSMC) and the National Bank of Ukraine (NBU). The commission will be responsible for regulating the crypto market, while the NBU will oversee specific areas, including electronic money and currency supervision.

Mandatory authorization is provided for cryptocurrency exchanges, custodians, and other service providers of virtual assets. In addition, the draft law establishes requirements for the storage of client assets, handling complaints, and protecting user rights.

A separate block of changes concerns financial monitoring. Market participants will have to comply with enhanced requirements regarding the verification of the origin of funds.

At the same time, the adoption of the law will be just one of the stages in implementing the new system. Additional regulatory measures will be needed for its full operation. Earlier, the NSSMC reported plans to prepare 18 subordinate acts after the law is adopted. According to the Commission's estimates, this work will take approximately six months.

Ukraine Among the Leaders in Cryptocurrency Use

Legislative regulation is taking place against the backdrop of active use of crypto assets in Ukraine. According to a Chainalysis study, in 2026, the country ranked seventh among 117 countries in terms of cryptocurrency usage. Compared to the previous year, Ukraine rose one position.

The study covers the period from July 2025 to June 2026. When forming the ranking, user activity through crypto services, domestic and international transfers, as well as the volumes of crypto assets on balances were taken into account.

At the same time, no special comprehensive regulation of this market has yet been introduced in Ukraine. Among the issues that draft law No. 10225-d must regulate are the legal status of virtual assets, the rights of their owners, requirements for service providers, and the taxation of transactions.

Work on the document has been ongoing for several years. The initial draft law No. 10225 was registered in 2023, and the revised alternative version No. 10225-d was submitted on April 24, 2025. On September 3, 2025, the Verkhovna Rada supported the document in principle, after which it was prepared for the second reading.

According to Zheleznyak, the preparation of the draft law took about three years. He reported that the text of the document consists of 264 pages, and the comparative table for it has 1301 pages.

The MP called this work one of the biggest challenges in his legislative career. He noted that during the preparation of the document, the team focused on the best practices of the European Union.

After being supported by the profile committee, the draft law will undergo a second reading in the Verkhovna Rada. Its provisions may still change before final adoption.

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