Moldova

In Moldova, cryptocurrencies are not recognized as legal tender or currency. Instead, they are treated as 'property' under general income tax rules. While owning and trading cryptocurrencies is legal, their use for payments is banned. The State Tax Service of the Republic of Moldova (SFS) is responsible for administering and collecting taxes related to cryptocurrency transactions. The National Bank of Moldova (NBM) provides warnings on associated risks. As there is no dedicated crypto tax law currently, taxation falls under the existing general income tax framework. For individuals, a flat 12% tax rate applies to profits derived from cryptocurrency activities. This 12% capital gains tax is levied on profits from crypto sales and exchanges when converted to fiat currency. There is no distinction made for holding periods, short-term and long-term gains are both taxed at the same 12% rate. Cryptocurrencies are exempt from Value Added Tax (VAT). Corporate entities engaging in crypto activities are subject to the standard 12% corporate income tax rate. Income from mining and staking rewards is considered ordinary income and taxed at the 12% individual rate upon receipt or realization. For Decentralized Finance (DeFi) activities, specific guidance is currently lacking, but gains are likely subject to the 12% tax rate upon realization. Non-Fungible Tokens (NFTs) are treated as property, with profits from their sale taxed at 12%. While crypto-to-crypto exchanges are generally not taxed until conversion to fiat, transactions exceeding €10,000 annually must be reported. Moldova is preparing to adopt a comprehensive cryptocurrency law in 2026. This upcoming legislation aims to legalize the ownership and trading of digital assets, maintain the ban on crypto payments, and establish a 12% tax on transaction income, aligning with the European Union's MiCA framework.