Cryptocurrency bill in Ukraine is 90% ready

The cryptocurrency bill in Ukraine is 90% ready, and the NSSMC plans to finish the text in August. This is important for traders, BTC and USDT holders, as well as for those waiting for clear tax rules.

This was told to Incrypted in an interview by NSSMC head Oleksii Semeniuk. According to him, August refers specifically to finalizing the text, not to adoption in parliament. Some sections have already been agreed, but taxes and the legal status of crypto assets in criminal and enforcement proceedings still remain open.

For the market, this is no small matter. When the rules are written unclearly, businesses and users act more cautiously, and major players wait for a signal from the state. That is why every step in this bill is being read very carefully. And here, it is not only politics that matters, but also very practical things: the rate, the base, the deadlines, and liability.

What exactly has already been agreed in the bill?

Semeniuk said directly that the issue of dividing powers between state bodies has already been closed. The NSSMC has been designated as the main regulator of the virtual assets market, while a separate list of powers has been reserved for the National Bank. According to him, this list has been agreed and is not up for negotiation.

The parties also agreed on the classification of virtual assets under the MiCA approach. The document refers to asset-referenced tokens, e-money tokens, and other virtual assets. They also agreed separately on licensing service providers, capital requirements, custody of client assets, their separation from companies’ own funds, and financial monitoring.

There is another important block. A special market operating regime during martial law and a nine-month period for preparing subordinate legislation after the law is adopted have been agreed. These details will determine how the market works in practice, not just on paper. From there, everything depends on whether it can be quickly brought into a single text without new disputes.

Why are tax issues slowing the process?

The most difficult knot, according to the NSSMC head, is taxation. The tax rate, the base, the moment when the tax obligation arises, and the length of the preferential period still need to be agreed. Without this, the document does not look complete, because taxes usually have the biggest impact on user behavior.

There is also a second problematic block: the legal status of virtual assets in criminal proceedings and enforcement proceedings. Semeniuk admitted that this is not within the NSSMC’s area of responsibility, but without these norms the law will not work properly. That is why progress here is the slowest.

“This is not our competence, but without it the law does not work, and that is exactly where things are moving the slowest right now,” Semeniuk said.

For the reader, this means one simple thing: even if the text is almost ready, the final version may still change. And the tax part here seems decisive. Next, it will be important to see how the market and parliament react.

Market reaction

The backdrop to this topic has long been tense. Law No. 2074-IX on virtual assets was adopted on February 17, 2022, and signed on March 16, 2022, but it still has not entered into force because its launch is tied to changes in the Tax Code. In other words, the Ukrainian market has been living in anticipation for more than one year.

Bill No. 10225-d was registered on April 24, 2025, and as of July 31, 2026, its card in the Verkhovna Rada lists its status as “being prepared for second reading.” Against this backdrop, in August 2025 the anti-corruption committee already pointed out that certain provisions did not meet anti-corruption legislation requirements. This explains why the document has been moving toward the finish line so slowly.

According to the bill card in the Verkhovna Rada, the process is still far from a final vote, and in the material about the recent Aave news it is easy to see how strongly even technical rule changes affect the crypto market. The story here is similar, only the stakes are higher because it concerns the entire market in Ukraine.

• The bill text is about 90% ready.

• Finalization is planned for August, but not adoption.

• The role of the NSSMC as the main regulator has been agreed.

• The asset classification under MiCA has been agreed.

• Subordinate legislation must be prepared within 9 months after the law.

• Taxes and legal status in court proceedings are still open.

What does this mean for investors?

For cryptocurrency holders, the main takeaway is this: the rules are almost assembled, but the key part is still not closed. Until there is a final tax model, it is difficult to calculate exactly how much will have to be paid from profits and how transactions should be recorded.

There is also a practical point for Ukrainians. According to the Chamber of Commerce in Ukraine, the current tax consultation dated August 5, 2025 treats crypto profit as an individual’s annual taxable income, and the basic burden is 18% personal income tax plus 5% military levy. At the same time, in April 2025 the NSSMC published a matrix with options of 18% + 5% or preferential 5% and 9%.

That is the main intrigue. If the law keeps a clear tax model, the market will get less gray area and more predictability. If taxes are delayed for much longer, participants will continue to operate in waiting mode rather than planning mode.

By the way, according to Chainalysis, Ukraine ranked 8th in the world in 2025 by crypto adoption level, and in 2024 it was 6th. This means the demand for clear rules here is not theoretical, but very practical. The market is already large, and it has long been asking for clear boundaries. If you need to quickly convert part of your funds into hryvnia, it is convenient to sell USDT TRC20 to Monobank.

Frequently asked questions

When could the cryptocurrency bill be completed?

According to Oleksii Semeniuk, the text is planned to be finalized in August. But that does not mean the law will be adopted immediately, because parliamentary procedures and a second-reading vote are still required.

Which issues remain open?

The biggest disputes remain around taxes, in particular the rate, the base, and the moment when the obligation arises. The legal status of virtual assets in criminal proceedings and enforcement proceedings is also still unresolved.

Why is this law important for ordinary users?

Because it is supposed to provide clear rules for buying, selling, and storing cryptocurrency in Ukraine. Without this, people and companies do not know exactly how to work with assets, and that slows the market.

While bill No. 10225-d is being brought to second reading, the market is closely watching the tax formulas and the regulator’s role. And for those who already work with BTC or USDT and want to quickly convert funds into hryvnia, sell USDT TRC20 to Monobank may be useful.

This material is not financial advice. Cryptocurrency trading involves significant risks. Part of this text was prepared with the help of artificial intelligence based on public sources and reviewed by our editorial team.