Ukraine's central bank opposes the cryptocurrency legalizati
On November 5, 2026, the National Bank of Ukraine said it did not support the current version of the draft law on the legalization and regulation of crypto assets and called on lawmakers to amend it before the final vote, citing insufficient time for review, the threat that foreign tokens pose to monetary sovereignty, and the fact that the number of trading platform admissions would be left to the securities regulator's discretion. The draft would make the securities regulator the lead supervisor, and existing assets would be subject to a 5% transitional tax rate until the end of 2028.
Event Timeline
- [11-05 13:02] Ukraine's central bank opposes the current crypto bill and demands amendments before the final vote (Odaily Planet Daily)
- [11-05 13:03] Ukraine's central bank opposes the crypto legalization bill and asks lawmakers to amend it before the final vote (PANews)
Background and Impact
On November 5, 2026, the National Bank of Ukraine (NBU) publicly commented on draft law No. 10225-d on the legalization and regulation of crypto assets, saying it did not support the current version and calling on lawmakers to continue amending it before the final vote. The NBU noted that the final text was delivered only on Tuesday night, leaving insufficient time for review, and that the legislative process lacked transparency. Both sources reported this position the same day.
The NBU said it supports advancing regulation with reference to the EU's Markets in Crypto-Assets Regulation (MiCA) and IMF recommendations, but believes the draft still does not address its key concerns. The bank warned that foreign tokens not adequately regulated in their place of issuance could enter Ukraine, some of which could function as e-money, threatening monetary sovereignty and financial stability, and bypass requirements applicable to similar domestic assets; the NBU wants the power to assess and, if necessary, restrict their use. On market access, the NBU said a compromise had previously been reached to initially select three crypto trading platform operators through competition, but the final text leaves the number of admissions in the first five years to the discretion of the securities regulator, raising concerns about monopoly and corruption risks.
Under the draft, the National Securities and Stock Market Commission of Ukraine would become the main regulator, and existing crypto assets would be subject to a 5% transitional tax rate until the end of 2028. The two sources differ in wording on the degree of the NBU's opposition: Odaily Planet Daily said the NBU "does not support the current version" and called for amendments; PANews, citing a Coindesk report, said the NBU "refused to support" the bill