As Ukraine faces the ongoing conflict with Russia, a significant development is unfolding within its digital asset framework. The National Securities and Stock Market Commission (NSSMC) has presented a comprehensive tax framework for virtual assets, aiming to align with international standards while contributing to military support during the conflict. This framework introduces two separate tax rates: 5% for specific categories and 18% on profits from virtual asset transactions. The framework includes measures that will ensure consistent application of taxes across various stages of cryptocurrency transactions, including mining, airdrops, and fiat conversions. Notably, no taxation occurs when transferring cryptocurrencies to other cryptocurrencies, according to the proposed structure. The NSSMC’s proposal for a crypto tax system is designed to generate revenue and provide funding for military operations. The framework will be introduced gradually with specific rates in effect by mid-2025, while seeking guidance from countries like Austria, France, Malaysia, and Singapore that have implemented similar exemptions or minimal taxation on cryptocurrency usage.