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Kazakhstan vs Ukraine

Crypto regulation comparison

← Back to map | Kazakhstan | Ukraine
Kazakhstan

Kazakhstan

Ukraine

Ukraine

Legal
Legal

Kazakhstan has a dual approach to crypto regulation. The Astana International Financial Centre (AIFC) operates as a regulated sandbox where licensed crypto exchanges can operate under AFSA supervision. Outside the AIFC, crypto regulation is more restrictive. Kazakhstan became a major mining hub after China's ban but has since tightened mining regulations.

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 Capital gains
Tax Type Capital gains
Tax Rate 10%
Tax Rate 18% + 1.5% military levy
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator AFSA (Astana Financial Services Authority), NBK (National Bank of Kazakhstan)
Regulator NSSMC (National Securities and Stock Market Commission), NBU
Stablecoin Rules AIFC (Astana International Financial Centre) has its own framework for digital assets including stablecoins
Stablecoin Rules Under development in virtual assets legislation
Key Points
  • AIFC provides a regulatory sandbox for licensed crypto exchanges and businesses
  • Mining is legal and licensed, with a specific tax on electricity consumption for miners
  • Kazakhstan became the world's second-largest Bitcoin mining country after China's 2021 ban
  • 2022 mining crackdown introduced stricter licensing and energy consumption taxes
  • Outside AIFC, domestic crypto payments and exchanges face greater restrictions
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