Micronesia vs Ukraine
Crypto regulation comparison
Micronesia
Ukraine
No Regulation
Legal
Micronesia has no specific cryptocurrency regulation. Uses the US dollar as its official currency.
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
None
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
18% + 1.5% military levy
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Department of Finance and Administration
Regulator
NSSMC (National Securities and Stock Market Commission), NBU
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Under development in virtual assets legislation
Key Points
- No specific cryptocurrency legislation
- Uses the US dollar as official currency
- Very limited financial infrastructure
- Minimal crypto adoption
- No licensing framework for crypto services
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