Ruslan Magomedov, Chairman of Ukraine’s National Securities and Stock Market Commission (NSSMC), announced open access to the virtual asset taxation matrix for crypto market participants.
In March 2025, the document was first presented during a meeting of the working group under the relevant Committee of the Verkhovna Rada of Ukraine. At that time, it was still being finalized.
“The NSSMC has developed a matrix that demonstrates taxation options for various transactions with virtual assets, from mining to airdrops. It is based on international experience and adapted to the Ukrainian jurisdiction,” Magomedov said.
According to the matrix, virtual assets will be subject to taxation at preferential and standard rates. In particular, the standard rate will be 18% income tax and 5% military levy.
At the same time, according to Article 167 of the Tax Code of Ukraine, there are two options for the preferential rate — 5% and 9%.
As for value-added tax (VAT), the matrix refers to the experience of EU countries, where virtual currencies, although not legal tender, may be exempt from VAT if accepted as a means of payment.
Gifted virtual assets, donations, and transfers between taxpayer wallets will be exempt from taxation.
Staking, mining, hard forking, and airdrop operations are also considered income.
Magomedov added that this document aims to help responsible authorities make informed decisions by assessing the advantages and disadvantages of each model, as these decisions can critically affect market development and tax liability.
Earlier, the head of the department emphasized that the regulation will help protect the crypto market and maintain confidence in it on the part of investors and international partners.
In addition, at the end of March, a model for the distribution of powers to supervise the crypto market between the NSSMC and the National Bank of Ukraine was introduced, according to which the Commission was able to supervise certain counterparties and tokens outside the category of electronic money.