Questions about the law regulating crypto assets

In August, the draft law will be considered in the Verkhovna Rada in the first reading.

The draft law on the legalization of cryptocurrency contains two main blocks of issues:

• legal definition of the status of cryptocurrency and resolution of the issue of its taxation. According to the project, cryptocurrency will not be a means of payment. It is recognized as movable property

• Cryptocurrency will be divided into three categories: tokens tied to an asset (such as real estate); tokens tied to money (like USDT); and other virtual assets (Bitcoin, Solana, etc.).