Ukraine has legalized virtual assets with the "Law on Virtual Assets," but the full regulatory framework is not yet in force as of late 2025, pending tax law amendments. The National Securities and Stock Market Commission (NSSMC) is set to be the main regulator, with a focus on aligning with the EU's MiCA framework. A draft tax law proposes a combined 23% tax on individual crypto income, though a lower rate is proposed for the first few years. Regulated by National Securities and Stock Market Commission (NSSMC).

Notable features: Law on Virtual Assets (not fully in force), Alignment with MiCA framework, Proposed progressive tax rates, National Bank of Ukraine (NBU) restrictions on crypto purchases

A licensing regime for Virtual Asset Service Providers (VASPs) is outlined in the Law on Virtual Assets but is not yet in effect. It will require separate permits for services such as storage, exchange, transfer, and intermediation of virtual assets, with specified minimum capital requirements for resident and non-resident companies.

A new tax framework is proposed under Draft Law No. 10225-d, expected from January 1, 2026. It proposes an 18% personal income tax and a 5% military levy on profits from virtual assets, with a transitional reduced rate of 5% PIT for assets sold during 2026.

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https://cms.law/en/int/expert-guides/cms-expert-guide-to-crypto-regulation/ukraine,https://www.ey.com/en_ua/it-tax-law-digest/the-draft-law-on-the-taxation-of-income-from-virtual-assets-approved-by-the-parliamentary-committee,https://www.nssmc.gov.ua/en/