Summary
- Ukraine plans to legalize virtual assets in the first quarter of next year.
- The chairman of the parliamentary finance policy committee expects the bill preparations to be completed by the new year.
- The method of taxation on virtual assets is explained to apply to profits when converted into currency.
Ukraine is expected to push for the legalization of virtual assets (cryptocurrencies) early next year.
According to Pravda on the 12th (local time), Danilo Hetmanchev, chairman of the parliamentary finance policy committee, stated at the 'Domestic Investment Opportunities' forum, "The parliamentary working group is finalizing a draft virtual asset bill for the first reading, and we expect to complete preparations by the new year. Possibly, after passing the bill, virtual assets could be legalized in the first quarter of next year."
He also mentioned the tax system. He explained, "There will be no tax exemption for virtual assets, and taxes will be levied on profits when assets are converted into currency, following the model used for securities."
YM Lee
20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEE
