Ukraine Takes Bold Steps to Tax Cryptocurrency Transactions – BitRss

Ukraine is making a significant move to regulate its cryptocurrency market. The government plans to legalize and tax cryptocurrency transactions, with expected tax rates ranging from 5% to 10%. However, for assets whose sources cannot be documented, tax rates could reach up to 23%. This regulation could have substantial implications for investors and the cryptocurrency market.

Cryptocurrency Tax Rates Are Set

The Ukrainian government aims to impose a tax of 5% to 10% on cryptocurrency transactions. This regulation is intended to strengthen the state budget and support military expenditures.

Ukrainian Cryptocurrency Tax

Danylo Hetmantsev, Chairman of the Verkhovna Rada Finance, Tax, and Customs Policy Committee, announced that the main text of the bill is ready. However, the government has not yet established a clear framework for tracking cryptocurrency transactions.

The bill is expected to be voted on for the first time in parliament this month. However, full implementatio…