The Verkhovna Rada Supports the Bill on Crypto Assets in the First Reading

• Ukrainian MPs have passed the first reading of the draft law “On virtual assets”.
• It defines the legal status of crypto assets and regulates the market of related services, as well as establishes taxation peculiarities.
• As stated earlier, after the first reading, the document will be finalized. It is not excluded that the text may change significantly.

The Verkhovna Rada of Ukraine on September 3, 2025, voted for the adoption of the bill on crypto-assets in the first reading. This was reported by MP Yaroslav Zheleznyak.

The document was supported by 246 MPs, with one person voting against, and more than 30 representatives of the Verkhovna Rada abstaining from voting.

Zheleznyak noted that lawmakers have not yet decided who will act as the industry regulator in Ukraine. The politician also confirmed that the document will undergo a major revision in the future.

The document establishes the basic norms of regulation of the industry, including the definition of terms, requirements for service providers, and brings Ukrainian legislation in this area closer to the European regulation MiCA.

In addition, the bill prescribes taxation of transactions with digital assets. For individuals, income from transactions with cryptocurrencies is subject to personal income tax rate of 18% and military levy. Earlier it was reported that until the end of 2026 for the owners of crypto-assets will be a preferential rate of personal income tax — 5%.

Note, as repeatedly emphasized, after the first reading, the document will be finalized and it will take a long time. According to Zheleznyak, the text of the bill may undergo significant changes before the second reading.

Back in April 2025, the bill received unanimous support of the specialized Committee of the Verkhovna Rada on Finance, Tax, and Customs Policy. At that time, it was assumed that the document would soon be submitted for the first reading.

However, later, as Yaroslav Zheleznyak reported, the document was removed from the agenda at the initiative of the Presidential Office. The reason for this, according to the MP, was the influence of the National Commission on Securities and Stock Market.

The Commission itself denied this. Ruslan Magomedov, head of the agency, said at Incrypted Conference 2025 that it “makes no sense” for the Commission to block the document.

This news is being updated. Stay tuned to Incrypted for the publication of new details.