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Argentina vs Ukraine

Crypto regulation comparison

← Back to map | Argentina | Ukraine
Argentina

Argentina

Ukraine

Ukraine

Legal
Legal

Cryptocurrency is legal in Argentina and widely adopted due to persistent inflation and currency controls. The CNV regulates crypto service providers under a 2024 registration framework. Argentina has one of the highest crypto adoption rates globally, with stablecoins used as a hedge against peso devaluation.

Ukraine passed the 'On Virtual Assets' law in 2022, establishing a legal framework for crypto. The NSSMC is designated as the primary regulator for virtual assets. Crypto gained significance during the Russia-Ukraine war, with Ukraine receiving over $100 million in crypto donations. Tax rules specify 18% income tax plus 1.5% military levy on crypto gains. Full implementation of the regulatory framework has been delayed due to the ongoing conflict.

Tax Type Income
Tax Type Capital gains
Tax Rate 5% (peso-denominated) / 15% (foreign currency)
Tax Rate 18% + 1.5% military levy
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CNV (Comisión Nacional de Valores), BCRA
Regulator NSSMC (National Securities and Stock Market Commission), NBU
Stablecoin Rules No specific stablecoin regulation; USD-pegged stablecoins widely used informally
Stablecoin Rules Under development in virtual assets legislation
Key Points
  • CNV registered as the regulatory authority for virtual asset service providers (VASPs) under FATF guidelines
  • Crypto gains taxed as income under the income tax law at progressive rates
  • High adoption driven by inflation and capital controls on the Argentine peso
  • Exchanges must register with the CNV and comply with AML/KYC requirements
  • No legal tender status for crypto; the peso remains the only legal tender
Key Points
  • Virtual Assets law passed in 2022, establishing legal status for crypto
  • NSSMC designated as primary regulator for virtual assets; NBU handles stablecoins
  • 18% personal income tax + 1.5% military levy on crypto gains (19.5% total)
  • Over $100M in crypto donations received during Russia-Ukraine war
  • Full regulatory implementation delayed due to ongoing conflict
Sources
Sources