Ukraine's financial regulator has proposed a tax framework that includes a 23% tax on certain crypto transactions categorized as personal income. This framework, introduced by the National Securities and Stock Market Commission (NSSMC), excludes crypto-to-crypto transactions and stablecoins, which could face lower taxation of 5% or 9%. The NSSMC Chairman, Ruslan Magomedov, emphasized the need for an informed legislative decision on this critical framework, intended to align Ukraine with approaches taken by several European countries. The proposed structure also addresses crypto-related activities, suggesting potential tax exemptions for donations, family transfers, and long-held crypto assets. Mining and staking are considered business activities under this framework, with discussions suggesting potential tax-free limits for small investors. The NSSMC aims to relieve the tax burden for small stakeholders, further reflecting trends in other jurisdictions. This framework builds on ongoing discussions since December regarding cryptocurrency taxation laws in Ukraine, which President Zelenskyy has advocated for since 2022.

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