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Ukraine proposes tax on cryptocurrencies

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Ukraine proposes tax on cryptocurrenciesReading Time: 1 minute

 

A new bill submitted for approval in Ukrainian Parliament has proposed a new tax on cryptocurrencies. This has resulted in raised eyebrows, because the legal status of cryptocurrencies is not yet clear in the country. This draft proposal of the bill was submitted by a group of 23 MPs. According to the bill, it is aimed at bringing out of the shadow economy a large volume of operations with cryptocurrencies and pumping up the state budget. In particular, the deputies propose to impose a 5 per cent tax on the profits of individuals related to transactions with cryptocurrencies. The profit of company involved into operations with cryptocurrencies, is also proposed to be taxed at a rate of 5 per cent until 1 January 2024. However, after this date, the rate should increase immediately to 18 per cent.

Authors of the bill in the explanatory note to the document provided a rather bold forecast. According to their calculations, the bill will help to attract an additional UAH 1.27 billion annually to the state budget during 2019–2024.

It is worth noting that neither Ukrainian government nor the National Bank has yet defined legal status and regulation for cryptocurrencies.

“To date, alas, the issue of legal settlement of the cryptocurrency is still open. Many believe that cryptocurrency is illegal, and this is the most common myth. Cryptocurrencies are not officially prohibited at the moment in Ukraine. Thus, it is incorrect to say that cryptocurrencies are illegal, if you follow the rule: “everything that is not forbidden is allowed,” said Pavel Moroz former Deputy Minister of Justice.

It is worth mentioning, that this is not the first attempt to provide tax regulation for cryptocurrencies in Ukraine.


Source: Latest News on European Gaming Media Network

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Hub88 strikes Playzia deal to deliver branded content and proprietary mechanics

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Popular TV-based IPs such as Love Island: Love in a Spin and the other iconic themes made available via aggregator’s platform

Hub88 has boosted its award-winning aggregation platform by entering a strategic agreement with online casino content provider Playzia.

Playzia’s popular games, including Love Island: Love in a Spin – released under licence from ITV Studios – as well as Tale of the Red Dragon, Crazy Chilli Party, The Great Fishing Adventure, Billionaire Wolf and Sweet Candy Fortune, are now available to Hub88’s licensed global operator network.

The agreement brings Playzia’s titles to Hub88’s platform, spanning slots, instant win content and crash and table games, with a focus on regulated market compliance across multiple jurisdictions.

Additionally, Playzia’s proprietary Cubicways mechanic offers players dynamic rotating reel configurations that reveal new progression paths and gameplay environments, a trademarked feature in titles such as Knights 2: The Dragon Cubicways.

The deal further reinforces Hub88’s commitment to offering diverse gaming content from studios that successfully blend entertainment and iGaming, while sharing their regulated-first approach.

Ollie Castleman, Managing Director at Hub88, said: “Playzia has built an impressive portfolio that balances innovation with broad player appeal. Their Cubicways mechanic brings something different to the market, while their branded titles create compelling experiences that attract new player segments.

“As operators look to differentiate their content offering and engage new demographics, partnerships like this become increasingly important.”

Joe Caetano, Commercial Director at Playzia, said: “We’re thrilled to partner with Hub88, a platform that shares our commitment to seamless integration and delivering engaging gaming experiences.

“This collaboration enables us to reach new regulated markets and connect with operators looking for vibrant, high-quality content that resonates with diverse player audiences.”

The post Hub88 strikes Playzia deal to deliver branded content and proprietary mechanics appeared first on Gaming and Gambling Industry Newsroom.

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Betandyou shortlisted for three international awards

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Despite the cold winter, the iGaming industry is entering its hottest season — awards season. This is the time when international experts evaluate the most innovative products, technologies, and services, highlighting the companies that set the standards for the year ahead. This season, Betandyou is kicking off with a strong start, making it onto the shortlist of several prestigious international awards.

Betandyou has been named a finalist at the European iGaming Awards in the category Sports Betting Platform of the Year, which recognizes brands delivering exceptional innovation, operational excellence, and user experience. At the same time, the brand has been shortlisted in the same category at the International Gaming Awards, one of the most influential global iGaming awards, where judging focuses on technology, UX, responsible gaming, and platform reliability.

Additionally, Betandyou has made it to the finals of the LCB Awards, earning recognition in three separate categories. This award is particularly meaningful because it combines expert evaluation with feedback from the real user community, reflecting both industry acknowledgment and players’ trust.

The Betandyou team commented on these nominations:

“This is an important milestone for us and a sign that our approach to product and service resonates with both the professional community and our users. We are grateful to the experts, partners, and players for their trust. Being shortlisted is already an achievement, and the wins are just the next step.”.

The team would like to thank partners, industry experts, and users for their support and high evaluation of the project. Awards season is just beginning, but Betandyou is already gaining international recognition as a strong player in the sports betting market.

Betandyou is a next-generation sports betting platform offering a seamless and secure experience for players worldwide. With a focus on innovation, fast payouts, and user-friendly design, Betandyou continues to set new standards for the online betting industry.

The post Betandyou shortlisted for three international awards appeared first on Gaming and Gambling Industry Newsroom.

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Latest News

Betandyou shortlisted for three international awards

Published

on

Despite the cold winter, the iGaming industry is entering its hottest season — awards season. This is the time when international experts evaluate the most innovative products, technologies, and services, highlighting the companies that set the standards for the year ahead. This season, Betandyou is kicking off with a strong start, making it onto the shortlist of several prestigious international awards.

Betandyou has been named a finalist at the European iGaming Awards in the category Sports Betting Platform of the Year, which recognizes brands delivering exceptional innovation, operational excellence, and user experience. At the same time, the brand has been shortlisted in the same category at the International Gaming Awards, one of the most influential global iGaming awards, where judging focuses on technology, UX, responsible gaming, and platform reliability.

Additionally, Betandyou has made it to the finals of the LCB Awards, earning recognition in three separate categories. This award is particularly meaningful because it combines expert evaluation with feedback from the real user community, reflecting both industry acknowledgment and players’ trust.

The Betandyou team commented on these nominations:

“This is an important milestone for us and a sign that our approach to product and service resonates with both the professional community and our users. We are grateful to the experts, partners, and players for their trust. Being shortlisted is already an achievement, and the wins are just the next step.”.

The team would like to thank partners, industry experts, and users for their support and high evaluation of the project. Awards season is just beginning, but Betandyou is already gaining international recognition as a strong player in the sports betting market.

Betandyou is a next-generation sports betting platform offering a seamless and secure experience for players worldwide. With a focus on innovation, fast payouts, and user-friendly design, Betandyou continues to set new standards for the online betting industry.

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