As the US-China tariff war continued, Ukraine took a major step towards regulating cryptocurrency.
The National Securities and Exchange Commission of Ukraine (NSSMC) has presented a comprehensive proposal on the taxation of cryptocurrency.
Designed to be compatible with global practices, this proposal provides much needed clarity about how crypto-related activities such as mining, staking, and airdrop are taxed.
The proposal, which is publicly shared, proposes an 18% personal income tax and a 5% military tax on digital asset revenues.
The proposal includes a 5% and 9% priority tax rate for certain categories as an alternative to the standard 18% tax.
The proposal states that inter-crypto transactions will be tax-exempt, while mining, staking and airdrops will be taxed. The proposal is currently in the council for review.
*This is not investment advice.
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