Bitcoin taxes. Why does the government want to legalize cryptocurrencies?
Ukraine is one of the countries with the largest volumes of transactions with crypto assets. Cryptocurrency has already become a part of our everyday life: it can be donated to the army, it is declared by officials, and it helps to circumvent the NBU’s currency restrictions.
Despite the fact that the Ukrainian virtual asset market is worth billions of dollars, the government seems to ignore its existence. At least, that was the case until recently. Currently, there are two draft laws in the parliament on legalizing the crypto asset market and introducing taxes for transactions with them.
According to the Ministry of Digital Transformation, which has developed one of the registered draft laws, the state can receive up to UAH 22 billion a year in taxes on cryptoasset transactions. Of course, if investors and market participants agree to pay them. How realistic is it? What are the benefits of legalization for crypto market participants? What do international partners think about this? We talked about this with Deputy Minister of Digital Transformation Oleksandr Borniakov.
