According to Cointelegraph, Ukrainian lawmaker Yaroslavzhelezniak said on social media that the Ukrainian parliament passed a first reading of the bill on legalizing and taxing cryptocurrencies on Wednesday, TechFlame reports. The draft bill provides for 18% income tax and 5% military tax on digital asset gains. The Act stipulates a preferential tax rate of 5% for the first year that digital assets are exchanged for fiat currency. Zhelezniak said in a statement: “There is little point in discussing it in detail now, and there will be many changes before the second reading. It is unclear whether the supervisory authority is the National Bank of Ukraine or the National Securities and Stock Market Commission.”