Ukraine Compliance Report

Regulatory Overview

Regulatory Status

Some rules exist but significant gaps; draft legislation or limited guidance

Key Regulator(s)

**Review and Assessment, **Decision, **Focus on Essential Services, Establishes, **Regulatory Status for Exchanges

Primary Legislation

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Travel Rule

Not adopted

Tax Reporting

**Law of Ukraine "On Virtual Assets" (adopted September 8, 2022, effective December 15, 2022):** This law provides a legal framework for virtual assets, defining them, their types, and the regulatory bodies. It legalizes the virtual assets market but **did not introduce specific tax rules** for virtual assets. It explicitly stated that the taxation of virtual assets should be regulated by amendments to the Tax Code of Ukraine.. **Reference:** Закон України "Про віртуальні активи" (Law of Ukraine "On Virtual Assets"). You can find the official text on the website of the Verkhovna Rada of Ukraine (the Ukrainian parliament): https://zakon.rada.gov.ua/laws/show/2074-IX. **Current Interpretation:** Profits derived from virtual asset transactions (e.g., selling cryptocurrency for fiat currency, exchanging one cryptocurrency for another at a profit, receiving crypto as payment for services) are generally treated as **other investment income** or simply **other taxable income**.. **Taxable Event:** A taxable event occurs when a gain is realized (e.g., sale, exchange, or use of crypto for goods/services where its value has increased since acquisition).. **Personal Income Tax (PIT): 18%**

Key Facts

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