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

Ukrainian MP Yaroslav Zhelezniak announced on social media 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.