Ukraine moved closer to a regulated cryptocurrency market on November 4 after the Verkhovna Rada Committee on Finance, Tax, and Customs Policy recommended that Parliament adopt bill No. 10225-d at second reading and in full. Committee Chair Danylo Hetmantsev announced the recommendation on his official Telegram channel. The draft proposes a 5% tax rate through 2028 for pre-existing crypto holdings, and if passed, the framework is expected to take effect on July 1, 2027. Parliament must still vote on the measure, so the proposed rules are not yet law.
The bill would establish a legal framework for virtual assets, define regulators’ powers, and set requirements for crypto market participants. However, the National Bank of Ukraine said it cannot support the current draft, arguing that the final version omits key safeguards discussed during negotiations. The central bank supports regulating crypto under MiCA principles and international standards, but stresses that the bill must not undermine monetary sovereignty, price stability, financial stability, or economic security.
The NBU identified three main concerns: uncontrolled access for foreign tokens that may function like electronic money, regulatory gaps that could enable arbitrage, and authorization rules that may create monopoly and corruption risks. It wants authority to restrict risky foreign tokens and clearer rules for market access. The bank also argues that authorization of trading-platform operators needs transparent limits and anti-competitive safeguards. The next step is parliamentary revision of the draft before the NBU could reconsider its position.
