Ukraine plans to approve the legalization of Bitcoin this year
The chairman of the Committee on Finance, Taxes and Customs Policy of Ukraine, Danylo Hetmantsev, has indicated that the legalization of bitcoin in the country could be ready by mid-2025. With this, the government would be able to attract investments and stabilize the economy
Amid the war in Ukraine, the country is heading towards the early legalization of Bitcoin, according to the chairman of the Committee on Finance, Taxes and Customs Policy of Ukraine, Danylo Hetmantsev.
Ukraine would be one of the first countries to adopt a comprehensive legal framework for cryptocurrencies, whose bill is in the final stage of drafting and could be approved by mid-year.
Hetmantsev confirmed the information and stressed that “the legalization of cryptocurrencies is a priority for the Ukrainian government, which seeks to attract foreign investment and strengthen its economy amid geopolitical challenges.”
In this regard, the country is preparing a tax system similar to that of other investment assets to ensure tax equity and avoid distortions in the market. “A transition period is being considered for those investors who cannot document the acquisition of their digital assets, facilitating their incorporation into the new legal framework.”
On the other hand, the government rules out “tax benefits or special incentives for companies and individuals operating with cryptocurrencies,” since, according to international experts, this could translate into a disproportionate tax burden for traditional industries.
Currently, the National Securities and Exchange Commission is the entity designated to supervise the cryptocurrency market. However, it does not have the necessary institutional capacity. Therefore, the government is studying the possibility that the National Bank of Ukraine will temporarily take on this responsibility, “guaranteeing effective supervision and the protection of investors.”
Necessary measures will be taken to prevent crimes such as money laundering and other illegal activities, promoting an investment-friendly environment.
M.Pino
Source: cripto247
(Reference image source: Glib Albovsky on Unsplash)
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