The National Bank of Ukraine has officially declined to support the draft law No. 10225-d regarding the legalization of virtual assets. The regulator expressed concerns that foreign tokens could function as electronic money without sufficient oversight, potentially threatening the country's monetary sovereignty and economic security.
The central bank also criticized the bill for granting the National Securities and Stock Market Commission excessive discretion in licensing crypto platforms. According to the NBU, this approach creates risks of monopolization, corruption, and regulatory arbitrage that could favor foreign market participants.
Despite the NBU's objections, the Verkhovna Rada Committee on Finance, Tax and Customs Policy recommended the bill for a second reading. The legislation previously passed its first reading on September 3, 2025, receiving 246 votes in favor.
The proposed tax framework includes an 18% personal income tax and a 5% military levy on profits from virtual asset transactions. Swaps between virtual assets would remain tax-exempt, and profits up to one minimum monthly wage would not be taxed.
The bill also introduces a preferential 5% tax rate for profits on assets acquired before 2027, which would remain in effect through 2028. If the parliament approves the remaining readings, the law is scheduled to take effect on July 1, 2027.
