diff --git a/app/upgrades/v9/constants.go b/app/upgrades/v9/constants.go
new file mode 100644
index 000000000..3d9c6f5fc
--- /dev/null
+++ b/app/upgrades/v9/constants.go
@@ -0,0 +1,19 @@
+package v9
+
+import (
+	"github.com/classic-terra/core/v3/app/upgrades"
+	taxexemptiontypes "github.com/classic-terra/core/v3/x/taxexemption/types"
+	store "github.com/cosmos/cosmos-sdk/store/types"
+)
+
+const UpgradeName = "v9"
+
+var Upgrade = upgrades.Upgrade{
+	UpgradeName:          UpgradeName,
+	CreateUpgradeHandler: CreateV9UpgradeHandler,
+	StoreUpgrades: store.StoreUpgrades{
+		Added: []string{
+			taxexemptiontypes.StoreKey,
+		},
+	},
+}
diff --git a/app/upgrades/v9/upgrades.go b/app/upgrades/v9/upgrades.go
new file mode 100644
index 000000000..13e2b617e
--- /dev/null
+++ b/app/upgrades/v9/upgrades.go
@@ -0,0 +1,41 @@
+package v9
+
+import (
+	"github.com/classic-terra/core/v3/app/keepers"
+	"github.com/classic-terra/core/v3/app/upgrades"
+	treasurytypes "github.com/classic-terra/core/v3/x/treasury/types"
+	"github.com/cosmos/cosmos-sdk/store/prefix"
+	sdk "github.com/cosmos/cosmos-sdk/types"
+	"github.com/cosmos/cosmos-sdk/types/module"
+	upgradetypes "github.com/cosmos/cosmos-sdk/x/upgrade/types"
+)
+
+func CreateV9UpgradeHandler(
+	mm *module.Manager,
+	cfg module.Configurator,
+	_ upgrades.BaseAppParamManager,
+	k *keepers.AppKeepers,
+) upgradetypes.UpgradeHandler {
+	return func(c sdk.Context, _ upgradetypes.Plan, fromVM module.VersionMap) (module.VersionMap, error) {
+		// migrate old treasurykeeper tax exemption to new tax exemption keeper
+		// tax exemption keeper is now a module
+
+		// get old tax exemption keeper
+		sub := prefix.NewStore(c.KVStore(k.TreasuryKeeper.GetStoreKey()), treasurytypes.BurnTaxExemptionListPrefix)
+
+		intoZone := "Binance"
+
+		// iterate through all tax exemptions
+		iterator := sub.Iterator(nil, nil)
+		defer iterator.Close()
+		for ; iterator.Valid(); iterator.Next() {
+			// get tax exemption address
+			address := string(iterator.Key())
+
+			// add tax exemption address to new tax exemption keeper
+			k.TaxExemptionKeeper.AddTaxExemptionAddress(c, intoZone, address)
+		}
+
+		return mm.RunMigrations(c, cfg, fromVM)
+	}
+}