Hong Kong vs Malawi
Crypto regulation comparison
Hong Kong
Malawi
Legal
No Regulation
Hong Kong has positioned itself as a major crypto hub in Asia with a comprehensive licensing regime. The SFC implemented a mandatory licensing framework for virtual asset trading platforms (VATPs) effective June 2023. Hong Kong has no capital gains tax, making it attractive for crypto investors and businesses.
Malawi has no specific cryptocurrency regulation. The Reserve Bank of Malawi has issued warnings about crypto risks but has not banned it.
Tax Type
No tax
Tax Type
None
Tax Rate
0%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
SFC (Securities and Futures Commission), HKMA
Regulator
Reserve Bank of Malawi
Stablecoin Rules
HKMA developing a licensing regime for stablecoin issuers under a 2024 bill
Stablecoin Rules
No stablecoin regulation
Key Points
- Mandatory VATP licensing regime under the AMLO effective June 1, 2023
- No capital gains tax in Hong Kong; profits tax applies only to business profits
- SFC approved spot Bitcoin and Ether ETFs for retail investors in April 2024
- HKMA consulting on stablecoin issuer licensing under a dedicated bill
- Hong Kong actively competes with Singapore as Asia's leading crypto hub
Key Points
- No specific cryptocurrency legislation
- Reserve Bank of Malawi warns about crypto risks
- Crypto not recognized as legal tender
- Limited crypto infrastructure and adoption
- No licensing framework for crypto services