Is crypto legal in Ukraine? Rules & regulation (2026)

Legal framework

Law of Ukraine 'On Virtual Assets' No. 2074-IX (2022, adopted but not yet in force) and pending Draft Law No. 10225-d (MiCA-aligned) — supervised by the National Bank of Ukraine (NBU) and the National Securities and Stock Market Commission (NSSMC); AML/CFT rules under Law No. 361-IX apply to VASPs.

Status by sub-area

• Stablecoins

  Proposed

  There is no in-force stablecoin regime today. Draft Law 10225-d proposes MiCA-style categories of asset-referenced tokens and e-money tokens with reserve, redemption, and authorisation requirements, with e-money tokens supervised by the NBU. Until enactment, stablecoin issuance/use falls under general AML rules only.

  Still pending: Law 10225-d on stablecoin categories/reserve requirements not yet enacted

• Exchanges / VASP

  Partial

  There is no bespoke VASP licensing regime in force yet, but exchanges and other VASPs must register with Ukraine's financial-monitoring authorities and comply with AML/KYC under Law No. 361-IX (since 2020). Bill 10225-d would introduce full NSSMC/NBU licensing with capital, ownership, conduct, and local-presence rules.

  Still pending: Bill 10225-d's NSSMC/NBU licensing regime for VASPs not yet enacted

• Token Offerings

  Proposed

  No dedicated token-offering regime is in force. Bill 10225-d would classify tokens along MiCA lines (asset-referenced, e-money, other) and impose whitepaper/disclosure and authorisation requirements; today, offerings that qualify as securities fall under existing securities law by analogy, but there is no crypto-specific prospectus regime.

  Still pending: Law 10225-d on token classification and whitepaper/disclosure requirements not yet enacted

• Custody

  Proposed

  There is no dedicated custody regime in force; crypto custodians are only regulated under general AML/CFT rules. Bill 10225-d would introduce NSSMC-licensed custody with client-asset segregation, safeguarding, and security standards mirroring MiCA.

  Still pending: Law 10225-d on NSSMC-licensed custody with segregation/safeguarding standards not yet enacted

• DeFi

  Unclear

  Ukrainian legislation does not yet specifically address decentralized finance. Bill 10225-d largely mirrors MiCA, which itself leaves fully decentralised protocols outside scope; DAO treatment and DeFi front-end liability are not spelled out in the draft, and there has been no notable enforcement action to date.

  Still pending: DAO treatment and DeFi front-end liability not yet defined in Ukrainian legislation

• Tax

  Partial

  Under Ukraine's Tax Code, general income and investment-income rules apply to crypto by analogy, but a dedicated tax framework has not yet fully entered into force. Draft amendments included in Bill 10225-d target 1 January 2026: a transitional 5% PIT on disposals during 2026 (plus 5% military levy), moving to the standard 18% PIT + 5% military levy thereafter, with exchange-difference rules for cost basis.

  Still pending: Law 10225-d tax amendments (5% transitional PIT 2026, then 18%) not yet enacted

Key points: crypto & digital assets in Ukraine

1. 01Comprehensive law still pending

   The 2022 'On Virtual Assets' Law (No. 2074-IX) was adopted by Parliament but never entered into force pending Tax Code amendments. Draft Law No. 10225-d, prepared by the NSSMC and modeled on the EU MiCA regulation, was adopted at first reading in 2025 and is being prepared for a second reading; the Ministry of Digital Transformation lists crypto legalization among its 2025–2026 priorities.

   globallegalinsights.com nssmc.gov.ua

2. 02Dual regulators: NBU + NSSMC

   Under Bill 10225-d, the NSSMC would license and supervise VASPs (exchanges, custodians, brokers) and oversee token issuance and market conduct, while the NBU would set authorisation rules for services exchanging virtual assets for currency values and would supervise e-money tokens (stablecoins).

   cms.law rada.gov.ua

3. 03Not legal tender — NBU 'red line'

   NBU Governor Andriy Pyshnyy has stated that virtual assets will not be permitted as a means of payment in Ukraine and cannot displace or weaken monetary policy; the hryvnia remains the sole legal tender even after crypto is regulated.

   finance.liga.net en.wikipedia.org

4. 04AML/CFT applies to VASPs since 2020

   Amendments to Law No. 361-IX 'On Prevention of Money Laundering and Terrorist Financing' brought virtual assets and VASPs within Ukraine's financial monitoring regime consistent with FATF Recommendation 15, requiring registration, KYC, and reporting; mandatory identification thresholds apply (approx. EUR 600 for transfers).

   globallegalinsights.com cms.law

5. 05Crypto tax framework being introduced

   The tax amendments in Bill 10225-d are designed to enter into force on 1 January 2026: a transitional reduced 5% personal income tax rate on 2026 disposals (plus 5% military levy), moving to the standard 18% PIT + 5% military levy thereafter; the Verkhovna Rada Finance Committee recommended adopting the revised bill in April 2025.

   ey.com lexology.com

6. 06MiCA alignment

   The NSSMC drafted Bill 10225-d based on the EU MiCA Regulation, introducing categories of asset-referenced tokens, e-money tokens, and other virtual assets with corresponding licensing, disclosure, and reserve requirements, as part of Ukraine's EU accession-track legal harmonisation.

   nssmc.gov.ua cms.law

Timeline of decisions

1. 29 Jun 2026Decision
   Ukraine transfers $8.3 million in seized crypto amid potential plans for strategic reserve

   CoinDesk Policy

Sources

1. 1.globallegalinsights.com/practice-areas/blockchain-cryptocurrency-laws-and-regulations/ukraine
2. 2.cms.law/en/int/expert-guides/cms-expert-guide-to-crypto-regulation/ukraine
3. 3.nssmc.gov.ua/en/virtualni-aktyvy-v-zakoni-v-ukraini-predstavlenyi-dovhoochikuvanyi
4. 4.rada.gov.ua/en/news/News/265708.html
5. 5.rada.gov.ua/en/news/News/200320.html
6. 6.ey.com/en_ua/it-tax-law-digest/the-draft-law-on-the-taxation-of-income-from-
7. 7.finance.liga.net/en/cryptoeconomics/novosti/pyshnyi-cryptocurrency-cannot-be-a-means-o
8. 8.en.wikipedia.org/wiki/Legality_of_cryptocurrency_in_Ukraine
9. 9.lexology.com/library/detail.aspx?g=8b6e6fd9-dde8-4dc7-9146-ea44f40a926c