Cointime

Download App
iOS & Android

Ukrainian Crypto Exchanges Fail to Contribute $81 Million to National Budget in Last Decade, Government Reports

Cryptocurrency exchanges operating in Ukraine have reportedly failed to contribute over $81 million to the national budget in the past decade, according to data from the Ukrainian government's Economic Security Bureau. The bureau analysed trading activity of exchanges created by residents of Ukraine, which had approximately $55 billion in Bitcoin, Ether and Tether volume from 2013 to 2023. Despite the passing of a regulatory framework for cryptocurrencies in the country in March 2022, no amendments to existing tax requirements have been implemented as of August 2023. Some Ukraine-based crypto users have questioned whether they will be required to provide 'backpay' of taxes based on transactions over the last ten years.

Comments

All Comments

Recommended for you