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Rwanda vs Ukraine

Crypto regulation comparison

← Back to map | Rwanda | Ukraine
Rwanda

Rwanda

Ukraine

Ukraine

Restricted
Legal

Rwanda is developing a comprehensive crypto regulatory framework. The NBR and Capital Markets Authority are drafting a law requiring VASPs to obtain CMA licenses. The draft law prohibits crypto as legal tender, bans mining and crypto ATMs, and imposes fines up to 30M RWF and imprisonment for unlicensed operators.

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 No No
Exchanges Yes Yes
Mining No No
Mining Yes Yes
Regulator National Bank of Rwanda (NBR), Capital Markets Authority (CMA)
Regulator NSSMC (National Securities and Stock Market Commission), NBU
Stablecoin Rules Draft law prohibits crypto as payment; mining and crypto ATMs banned
Stablecoin Rules Under development in virtual assets legislation
Key Points
  • Draft law requires VASPs to obtain licenses from Capital Markets Authority
  • Crypto prohibited as legal tender or payment method under draft law
  • Crypto mining, crypto ATMs, and mixer/tumbler services banned
  • Penalties include fines up to 30M RWF and up to 5 years imprisonment
  • Framework driven by FATF compliance on AML requirements
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