Last updated: July 2026.
Yes, cryptocurrency is not prohibited in Ukraine as of July 2026: you can own, buy, exchange, and sell it. However, the Law “On Virtual Assets” No. 2074-IX has not entered into force, so there is no special legal framework, and general provisions of the Tax Code apply to crypto income earned by individuals.
In brief. Cryptocurrency is not prohibited in Ukraine, but it is not regulated by a dedicated law either. Law No. 2074-IX was adopted but has not entered into force. There is no active licensing framework for crypto services, and crypto income is taxed under general rules.
Is Cryptocurrency Banned in Ukraine?
No. Ukrainian law does not prohibit buying, holding, exchanging, or selling cryptocurrency. Simply owning Bitcoin, USDT, or another virtual asset does not constitute a criminal offense.
However, “not prohibited” and “regulated” are different legal statuses:
- Not prohibited means there is no direct ban on owning cryptocurrency or carrying out transactions with it.
- Regulated means a dedicated law is in force that defines market rules, participants’ rights, oversight, and protection procedures.
Cryptocurrency in Ukraine falls into the first category, but not the second. You can buy and sell it, but the dedicated law on virtual assets is not yet in force.
As of July 2026, the legal status of cryptocurrency in Ukraine is governed by general law. The dedicated law on virtual assets is not in force, there is no separate market regulator, and cryptocurrency transactions by individuals are subject to the general provisions of the Tax Code.
For a crypto holder, this has two implications. You are not breaking the law merely by buying or holding a crypto asset. At the same time, there is no dedicated legal mechanism designed specifically for cryptocurrency transactions and disputes.
What Happened to the Law “On Virtual Assets” No. 2074-IX?
Law No. 2074-IX was adopted on 17 February 2022, but as of July 2026, it has not entered into force.
Official Status: “Has Not Entered into Force”
This is not an assessment by the media or an individual lawyer. The Verkhovna Rada portal provides the official record of Law No. 2074-IX with the status “has not entered into force”.
This status can be checked directly next to the document title. A law being adopted by parliament does not automatically mean that its provisions are already effective.
Why the Law Is Not in Force
The final provisions of No. 2074-IX link its entry into force to amendments to the Tax Code concerning the taxation of virtual assets. The law can only enter into force together with the relevant tax amendments.
Parliament has not adopted those amendments. Therefore, the sequence remains as follows:
No tax law → the law on virtual assets does not enter into force → the regulatory framework it provides for is not launched.
Draft Law No. 10225-d is intended to regulate the tax component. However, it is still being prepared for its second reading, so its provisions cannot be applied as effective rules.
Consequences for the Crypto Market
Because No. 2074-IX is not in force, Ukraine does not have an active licensing framework for virtual asset service providers. This is confirmed by the Global Legal Insights overview of cryptocurrency regulation in Ukraine.
Therefore, there is currently no Ukrainian “crypto licence” under Law No. 2074-IX. If a service claims that it has already obtained such a licence in Ukraine, this does not confirm its reliability.
A counterparty should be assessed using other criteria: transparent terms, a clear transaction process, and verifiable contact details. Practical criteria are outlined in the article on how to check an exchange service before a transaction.
Myths About Cryptocurrency Legalization in Ukraine
The main misconceptions arise from confusing laws currently in force, adopted documents, and draft laws.
Myth | Reality as of July 2026 | Source |
|---|---|---|
“Cryptocurrency was legalized on 1 January 2026” | Draft Law No. 10225-d passed only its first reading on 3 September 2025 and is being prepared for its second reading. There was no separate legalization event | |
“Law No. 2074-IX has been in force since 2022” | It was adopted, but it has not entered into force | |
“Crypto exchange services are licensed by the NBU or NSSMC” | There is no active licensing framework for VASPs. The powers of the NBU and NSSMC are described in a draft law, not in legislation currently in force | |
“MiCA applies in Ukraine” | MiCA is a European Union regulation and is not part of Ukrainian law. Draft Law No. 10225-d only draws on its approach | |
“If there is no dedicated law, there are no taxes either” | The absence of a special framework does not exempt income from taxation. The State Tax Service applies general rates: 18% personal income tax and 5% military levy | Analysis of State Tax Service individual tax ruling No. 4217/IPK |
Where the January 2026 Myth Came From
In autumn 2025, the Verkhovna Rada supported Draft Law No. 10225-d at its first reading. It received 246 votes, as reported by Forbes after the vote on 3 September 2025.
At the time, the launch of the new framework was linked to 1 January 2026. This forecast was circulated by media outlets and blogs, but the draft law did not pass its second reading. The projected date passed, while some publications remained outdated.
A particularly risky consequence of this myth is the claim that a 5% rate is already in force. It is included in the draft law and does not apply as a general rule. You cannot apply it to your own income based solely on an old publication.
What Has Changed Since 2025?
The legal status of cryptocurrency has not changed since 2025. Law No. 2074-IX still has not entered into force, and Draft Law No. 10225-d has not become law.
The key events are as follows:
- 24 April 2025: Draft Law No. 10225-d on the taxation of virtual asset transactions was registered.
- 13 May 2025: Its consideration was postponed after a meeting at the Office of the President. One of the disputed issues was the role of the NSSMC, according to Financial Club.
- 3 September 2025: The Verkhovna Rada supported the draft law at its first reading.
- 23 February 2026: The head of the tax committee named March as a target date for adoption and identified the NSSMC as the future regulator, as reported by Forbes.
- In July 2026: The draft law record shows that it is at the stage of preparation for its second reading.
Expectations for future regulation have changed, but the legal framework currently in force has not. Cryptocurrency remains not prohibited, but is not regulated by a dedicated law.
What This Means in Practice for Crypto Holders
In practice, you can own cryptocurrency and conduct transactions with it, but you must account for taxes and the risks of choosing a service yourself.
What You Can Do
- Buy and hold cryptocurrency. There is no direct ban on owning Bitcoin, USDT, or other crypto assets.
- Exchange and sell cryptocurrency. You can use exchange services, exchanges, and P2P platforms for such transactions.
- Choose your own exchange method. The absence of a special framework does not mean that transactions are prohibited.
What You Need to Do
- Declare crypto income yourself. An exchange, exchange service, or counterparty does not withhold tax on behalf of an individual.
- Pay taxes under general rules. The State Tax Service applies 18% personal income tax and 5% military levy. The procedure is explained in the article on how cryptocurrency income is taxed.
- Keep proof of purchase. Without documents confirming your expenses, the tax authority may take into account the full amount received rather than the difference between the purchase and sale prices.
The property and income declaration must be filed by 1 May of the year following the reporting year. Tax must be paid by 1 August. Current forms and guidance are published by the State Tax Service of Ukraine.
What You Should Not Expect
- A separate crypto market regulator. There is no specialized authority operating under an effective law on virtual assets.
- A Ukrainian licence under crypto legislation. The licensing framework envisaged by Law No. 2074-IX has not been launched.
- Automatic application of the 5% rate. This is a provision of a draft law, not a general rule currently in force.
P2P transactions also involve risks related to card transfers and counterparty selection. These are separately explained in the article on whether P2P crypto arbitrage is legal.
What Will Change If Draft Law No. 10225-d Is Adopted?
Draft Law No. 10225-d could introduce dedicated regulation, but its provisions are not currently in force. There is no effective date because parliament has not yet adopted the law.
In its current version, the draft law provides for:
- licensing or authorization of virtual asset service providers;
- creation of a state register of such providers;
- allocation of supervisory powers between the NSSMC and the National Bank;
- token categories modeled on the European MiCA Regulation;
- a taxable event when cryptocurrency is exchanged for fiat funds or other assets;
- a transitional 5% rate for certain transactions and an exemption for small amounts.
These are draft provisions. They may be changed during preparation for the second reading, so it is too early to calculate taxes or assess a service’s status based on them.
The current status of the document is shown in the Draft Law No. 10225-d record. Its proposed mechanism is also explained by the NSSMC and EY Ukraine.
If the tax amendments are adopted and enter into force, this may trigger the entry into force of Law No. 2074-IX. Until then, the general legal and tax framework remains applicable.
Conclusion
- Cryptocurrency in Ukraine is not prohibited: you can buy, hold, exchange, and sell it.
- It is not regulated by a dedicated law: No. 2074-IX has not entered into force, and there is no separate regulator or licensing framework.
- Crypto income must be declared independently and taxed under general rules.
The absence of a licensing framework means that a Ukrainian “crypto licence” cannot be used as a criterion for choosing a service. Check the transaction terms, contact details, transfer procedure, and physical presence before sending funds.
If you are planning an exchange, choose your counterparty carefully. Information about the service and how it works is available on the mw.exchange about page.
