Danilo Hetmantsev, head of the Verkhovna Rada Committee on Finance, Taxation and Customs Policy, spoke at the Incrypted Conference 2025 and outlined the future of cryptocurrencies in Ukraine. He is convinced that the number of digital asset owners will grow, especially after their legalization.
This is reported by Finway
Draft Law on Virtual Assets: Adaptation to EU Standards
Hetmantsev reported that the draft law on virtual assets has already been adapted to the European MiCA regulation. Its adoption is expected by the end of 2025. He does not rule out a possible distribution of powers among different bodies regarding the regulation of the crypto market.
“Parliament must support the draft law in the first and second readings. This is our obligation to international partners,” said Hetmantsev.
Previously, Hetmantsev mentioned that the legalization of crypto assets in Ukraine is planned for the first half of 2025. In April, the relevant committee unanimously supported the draft law “On Virtual Assets.” However, Yaroslav Zheleznyak later reported that the President’s Office had blocked this project at the initiative of the National Securities and Stock Market Commission (NSSMC). At the conference, Hetmantsev and Zheleznyak discussed this issue with the leadership of the NSSMC.
Key Issues of Cryptocurrency Regulation and Taxation
According to Hetmantsev, the main problem remains the identification of the primary regulatory body. There is an ongoing discussion between the National Bank of Ukraine (NBU), NSSMC, and the Ministry of Digital Transformation. Hetmantsev noted that the NBU has sufficient experience to regulate both the banking and non-banking sectors.
“The NBU is a powerful institutionally capable regulator with experience in both banking and non-banking sectors,” emphasized Hetmantsev.
He also criticized the NSSMC’s position on the mandatory registration of all crypto assets in Ukraine, even if they are already authorized by EU or US regulators, calling it absurd and creating additional barriers.
The possibility of distributing regulatory functions between the NBU and the Ministry of Digital Transformation is being considered, with the final decision to be made by the Cabinet of Ministers.
Regarding taxation, the basic version provides for an 18% personal income tax and a 1.5% military tax. During the transition period, crypto investors will have the option to pay 5% without the obligation to confirm expenses. Hetmantsev acknowledges that a 23% rate could stimulate the shadow economy but emphasizes the transparency of the proposed model.
“If someone wants to stay in the shadows — that’s their choice. All tax revenues go to the army,” stressed Hetmantsev.
State Crypto Reserve and Market Prospects
Hetmantsev commented on the idea of creating a state crypto reserve: it should be developed by the National Bank, but currently, this initiative is not a priority. He believes that a legislative framework must first be established before moving on to the next steps in this direction.
“It’s a great idea, but for now, the state is not seriously working on it. We need to adopt the law first, and then move forward,” he explained.
Recently, a draft law was registered in the Verkhovna Rada proposing to include crypto assets in the NBU’s currency reserve.
Hetmantsev emphasized that although he does not own crypto assets himself, he understands the market mechanisms well. He sees cryptocurrencies as a promising direction that requires state legalization and effective investor protection.
Among the main risks of legalization, he cites the possibility of tax evasion through the use of cryptocurrencies and the insufficient qualification of regulators. At the same time, the implementation of a legislative framework will open new opportunities for industry development and attracting investments during wartime.