Ukraine enters top 7 globally for crypto activity — Hetmanets

Ukraine strengthens position in global crypto rankings

Ukraine has improved its standing in the global cryptocurrency usage ranking, securing seventh place among 117 countries. This was confirmed by Danylo Hetmanets, head of the Verkhovna Rada's finance committee, citing a report by the company Chainalysis.

Compared to the previous year, the country's position moved up by one spot. In the 2026 study, Ukraine is surpassed only by Brazil, the US, Nigeria, Japan, South Korea, and India.

Methodology and market dynamics

The ranking assessments were based on data for the period from 1 July 2025 to 30 June 2026. Analysts considered fund movements through crypto platforms, domestic and cross-border transfers, as well as the total volume of crypto assets on user balances.

Meanwhile, the overall situation in the global crypto economy proved restrained. Over the specified period, its volume decreased by 1.6%, falling from $9.5 trillion to $9.4 trillion. The total capitalisation of the crypto market dropped by approximately 50%, or $2.1 trillion.

Stablecoins as a growth driver

Chainalysis experts link activity in the sector to the growing role of digital assets, particularly stablecoins — cryptocurrencies pegged to the dollar. The volume of cross-border transfers in such instruments increased by 77.5% over the year, reaching $220.3 billion compared to $124.2 billion a year earlier.

Legalisation of the crypto market planned

Commenting on Ukraine's results, Danylo Hetmanets emphasised that the sector still operates without clear legal frameworks. The status of crypto assets, requirements for exchanges, and taxation mechanisms remain unregulated.

To address these issues, the Verkhovna Rada has already adopted bill No. 10225-d in first reading, which regulates the circulation of virtual assets. The document is currently being prepared for second reading.

According to the head of the finance committee, the law must clearly define the legal status of virtual assets, protect the rights of owners, and establish rules for market participants. In addition, it provides for taxation of profits from crypto operations, enhanced client protection, and liability for service providers.

The completion of work on this regulatory act is planned for October.