Overview

• Lawmakers approved draft law No. 10225-d in its first reading with 246 votes, moving to give virtual assets legal status and a tax framework.
• The bill sets an 18% profit tax plus a 5% military levy, and offers a temporary 5% rate for crypto-to-fiat conversions during the first year after enactment.
• The draft defines virtual assets as digital property not recognized as legal tender and classifies them into asset-backed tokens, e-money tokens, and other virtual assets.
• Service providers must register and file annual reports, with reduced noncompliance penalties during a transition period—10% of the standard fine in 2026 and 25% from 2027 to 2029.
• Tax Code changes are slated to take effect on January 1, 2026, as Ukraine targets high crypto adoption and addresses illicit-finance risks flagged by RUSI and Chainalysis.