Ukraine vs Vatican City
Crypto regulation comparison
Ukraine
Vatican City
Legal
No Regulation
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.
Vatican City has no cryptocurrency regulation. The micro-state's financial system is focused on the Holy See's financial activities. ASIF provides financial oversight.
Tax Type
Capital gains
Tax Type
None
Tax Rate
18% + 1.5% military levy
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
NSSMC (National Securities and Stock Market Commission), NBU
Regulator
ASIF (Supervisory and Financial Information Authority)
Stablecoin Rules
Under development in virtual assets legislation
Stablecoin Rules
No stablecoin regulation
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
Key Points
- No specific cryptocurrency legislation
- ASIF provides financial oversight for the Holy See
- Micro-state with very limited financial market
- No crypto exchanges or services
- AML/CFT framework aligned with international standards