Ukraine vs Saint Vincent and the Grenadines
Crypto regulation comparison
Ukraine
Saint Vincent and the Grenadines
Legal
Legal
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.
Saint Vincent and the Grenadines has been a popular jurisdiction for offshore crypto businesses. No income or capital gains tax.
Tax Type
Capital gains
Tax Type
No tax
Tax Rate
18% + 1.5% military levy
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
NSSMC (National Securities and Stock Market Commission), NBU
Regulator
Eastern Caribbean Central Bank (ECCB), Financial Services Authority
Stablecoin Rules
Under development in virtual assets legislation
Stablecoin Rules
No specific 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
- Popular jurisdiction for crypto business registration
- No income or capital gains tax
- Financial Services Authority provides oversight
- ECCB provides regional monetary oversight
- Several crypto exchanges have been registered here