Ukraine vs Yemen
Crypto regulation comparison
Ukraine
Yemen
Legal
Restricted
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.
Yemen has a restrictive environment for cryptocurrency due to ongoing conflict and fragmented governance. The Central Bank has warned against crypto use. International sanctions further restrict access.
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
Central Bank of Yemen
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
- Central Bank has warned against cryptocurrency use
- Ongoing conflict limits regulatory development
- International sanctions restrict access to crypto platforms
- No specific cryptocurrency legislation
- Very limited crypto infrastructure