Ukraine ranks 7th globally in cryptocurrency usage, Chainalysis report

Ukraine has ranked 7th among 117 countries in cryptocurrency usage for 2026, rising one position from last year. This was announced by the head of the financial committee of the Verkhovna Rada, Danilo Hetmantsev, citing a Chainalysis study. Brazil, the USA, Nigeria, Japan, South Korea, and India ranked higher than Ukraine. The ranking covers the period from July 1, 2025, to June 30, 2026, considering flows through crypto services, domestic and cross-border transfers, and crypto asset volumes on balances. During this period, the global crypto economy shrank by 1.6% from 9.5 trillion dollars to 9.4 trillion dollars, while the total market capitalization decreased by approximately 50%, or 2.1 trillion dollars. Chainalysis noted that increased cryptocurrency usage influenced activity, particularly the role of stablecoins, which are digital assets pegged to the dollar. The volume of their cross-border transfers rose by 77.5% from 124.2 billion dollars to 220.3 billion dollars. Hetmantsev commented that the crypto market still operates without clearly defined rules, including the legal status of crypto assets, exchange requirements, and taxation procedures. A draft law No. 10225-d on virtual asset circulation has been developed and is currently being prepared for a second reading after being adopted in principle by the Verkhovna Rada. Hetmantsev stated that the draft aims to define the legal status of virtual assets and the property rights of their owners, establish market participant rules, and regulate profits from crypto asset transactions. The document also aims to enhance client protection and service provider accountability. Hetmantsev announced plans to complete work on the draft law in October.

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