Ukraine is establishing itself as one of the global centers of cryptocurrency activity. Between July 2023 and July 2024, the country received $106 billion in cryptocurrency revenues and spent $882 million in hryvnia equivalent on bitcoin purchases, according to a report by the European Bank for Reconstruction and Development (EBRD).
“The current growth in crypto activity is largely attributable to institutional transactions in the range from $1 million to $10 million and professional transactions in the range of $10,000 to $1 million,” the document says.
In early September 2025, analytics company Chainalysis released the Global Crypto Adoption Index, according to which Ukraine ranked first in the world in terms of cryptocurrency activity per capita. In the overall ranking, the country is eighth among 151 countries.
Meanwhile, according to a survey by Ipsos and the WhiteBIT crypto exchange (April-May 2025), cryptocurrencies are among the five most popular financial instruments among Ukrainians, along with bank accounts, deposits and real estate.
25% of financially active citizens have already invested in crypto assets, and another 23% plan to do so in the near future. At the same time, 60% of respondents believe that special knowledge is required to use cryptocurrencies.
Despite the high level of use of cryptocurrencies, the official position of government institutions remains restrained. In particular, in early September, the National Bank of Ukraine stated that it does not consider digital assets as reserve or means of payment.
In addition, according to RUSI, Ukraine has already lost at least $10 billion due to the lack of regulation of the crypto market. The report emphasizes that without proper legislation, the country risks becoming a hub for laundering Russian funds.
At the same time, after several years of discussions and revisions, the Verkhovna Rada finally moved forward in 2025 with a bill legalizing cryptocurrencies and setting out the rules for their taxation. The document was approved in the first reading.
