The owners of digital currencies have the right to report their assets as property or financial assets. As noted by the Deputy Minister of Finance of Ukraine Sergey Varlamov, the problem of regulating the industry of virtual assets is somewhat exaggerated.
“There are two types of transactions with cryptocurrencies — mining and trade. So, let’s say, we have bought a bitcoin for 1 000 UAH; then we were lucky, and the price rose to UAH 2 000; then we have sold bitcoin and transferred funds to the Bank card. The increase is UAH 1,000. We imposed on his income tax. The rate is 19.5%. A lot or a little – a rhetorical question,” said the official.
Also Verlanov said that, despite the lack of legal status of cryptocurrencies in the state, is a commodity subject to turnover.
“We already have MPs who submitted the electronic Declaration and announced their cryptocurrency assets. Some of them have outlined them under “property”, others under “financial assets”. Both options have a right to life, as the cryptocurrency still has no legal status,” said Varlamov.
Meanwhile, digital currency is already widely used in daily life of Ukrainians. For example, the Bessarabian market in Kiev you can now purchase products for the digital tokens.
After choosing products, buyers can scan the QR-code, which is written on the label installed on each tray, and to pay for purchases using cryptocurrency payment system Paytomat.
Currently, the payment system supports 11 of the cryptocurrency. Over time, however, the developers plan to expand the listing.