As the US-China tariff wars continue, Ukraine has taken a major step towards regulating cryptocurrencies. The National Securities and Exchange Commission of Ukraine (NSSMC) has presented a comprehensive proposal for taxation of cryptocurrencies. Designed to be compatible with global practices, the proposal will provide much-needed clarity on how crypto-related activities such as mining, staking and airdrops will be taxed. The proposal, which has been shared publicly, proposes an 18% personal income tax and an additional 5% military tax on digital asset earnings. The proposal includes preferential tax rates of 5% and 9% for certain categories, as an alternative to the standard 18% tax. The proposal states that crypto-to-crypto transactions would be exempt from tax, while mining, staking, and airdrops would be taxed. The proposal is currently in parliament for review. *This is not investment advice. Continue Reading: Ukraine Prepares for Tax on Bitcoin (BTC) and Cryptocurrencies! Which Transactions Will Be Exempt from Tax?
