Finland vs Malta
Crypto regulation comparison
Finland
Malta
Legal
Legal
Cryptocurrency is legal in Finland and well-regulated by the FIN-FSA. Crypto gains are taxed as capital income at 30% (34% for gains exceeding €30,000). Finland is one of few EU countries that has actively enforced tax compliance on crypto through data requests to exchanges.
Malta positioned itself as the 'Blockchain Island' with the 2018 Virtual Financial Assets (VFA) Act, one of the world's first comprehensive crypto regulatory frameworks. The MFSA licenses VFA service providers and oversees ICOs. Long-term crypto holdings are generally not subject to capital gains tax for individuals, while trading profits may be taxed as income.
Tax Type
Capital gains
Tax Type
Capital gains
Tax Rate
30-34%
Tax Rate
0-35%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Finanssivalvonta (FIN-FSA)
Regulator
MFSA (Malta Financial Services Authority)
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
Regulated under MFSA VFA framework and EU MiCA
Key Points
- Crypto capital gains taxed at 30% (34% for gains over €30,000 per year)
- FIN-FSA registers and supervises virtual currency providers under AML law
- Finnish Tax Administration actively sends letters to crypto holders based on exchange data
- Losses on crypto can be deducted from capital gains
- MiCA framework applicable from December 2024
Key Points
- Virtual Financial Assets Act (2018) provides a comprehensive licensing framework
- MFSA licenses VFA exchanges, brokers, custodians, and portfolio managers
- Long-term crypto holdings generally not subject to capital gains tax for individuals
- Day trading profits may be taxed as business income at progressive rates up to 35%
- Transitioning to EU MiCA framework from December 2024