
Ukraine has one of the world's highest crypto adoption rates and even used it for wartime fundraising. The law legalising virtual assets has passed, but the full tax and licensing framework is still being finalised.
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Crypto is widely used in Ukraine and was famously used to raise donations during the war. The 'On Virtual Assets' law was passed in 2022, but it is not yet fully in force because it depends on tax-code amendments still working through parliament. The securities regulator NSSMC, alongside the National Bank, is expected to supervise the market once the framework is live.
For now Ukrainians fund exchanges through bank transfers and P2P trading, with stablecoins popular as a hedge against the hryvnia. Lawmakers have proposed taxing crypto gains at the standard 18% personal income tax plus a 5% military levy, with discussion of a lower preferential rate for early adopters. Banking access can be intermittent given wartime currency controls, so P2P remains a common route.
Crypto is legal to own and use, and a 'On Virtual Assets' law has passed. It is not fully in force yet, because it relies on tax-code amendments still moving through parliament.
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