Ukraine’s Parliament Approves First Reading of Cryptocurrency Tax Bill

Ukraine’s parliament has passed the initial stage of a bill aimed at regulating and taxing cryptocurrencies. The proposed legislation sets an 18% income tax and a 5% military tax on profits from cryptocurrency transactions. Further adjustments are anticipated before final approval. The bill is expected to bring clarity and transparency to Ukraine’s growing digital asset ecosystem, potentially attracting foreign investment while ensuring tax contributions from those engaged in crypto trading and mining. This move marks a significant step towards legalizing and taxing cryptocurrencies within the country.