Ukraine's parliament passes cryptocurrency legalization and taxation bill at first reading

Ukrainian MP Yaroslav Zhelezniak announced that the Ukrainian parliament passed the first reading of a bill legalizing and taxing cryptocurrencies on Wednesday. The draft bill imposes an 18% income tax and a 5% military tax on gains from digital assets. The bill also stipulates a preferential 5% tax rate for the first year of converting digital assets into fiat currency. Zhelezniak stated in a statement: "It is pointless to discuss it in detail now, as many changes are expected before the second reading. It is not yet clear whether the regulatory body will be the National Bank of Ukraine or the National Securities and Stock Market Commission." (Cointelegraph)