The National Bank of Ukraine has refused to support Bill No. 10225-d in its current form, despite having helped draft it. The central bank argues that foreign-issued tokens could serve as electronic money in Ukraine without adequate regulatory oversight, threatening the country’s monetary sovereignty and economic security. It also calls for clearer rules covering the admission of foreign tokens, platform licensing and the prevention of unfair competition. The Verkhovna Rada’s Committee on Finance, Tax and Customs Policy recommended the bill for a second reading after it passed its first reading on September 3, 2025, with 246 votes. If adopted, the legislation would enter into force on July 1, 2027, with an 18% personal income tax on virtual asset profits, a 5% military levy and several exemptions or transitional rates.
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