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Kazakhstan vs Malta

Crypto regulation comparison

← Back to map | Kazakhstan | Malta
Kazakhstan

Kazakhstan

Malta

Malta

Legal
Legal

Kazakhstan has a dual approach to crypto regulation. The Astana International Financial Centre (AIFC) operates as a regulated sandbox where licensed crypto exchanges can operate under AFSA supervision. Outside the AIFC, crypto regulation is more restrictive. Kazakhstan became a major mining hub after China's ban but has since tightened mining regulations.

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 10%
Tax Rate 0-35%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator AFSA (Astana Financial Services Authority), NBK (National Bank of Kazakhstan)
Regulator MFSA (Malta Financial Services Authority)
Stablecoin Rules AIFC (Astana International Financial Centre) has its own framework for digital assets including stablecoins
Stablecoin Rules Regulated under MFSA VFA framework and EU MiCA
Key Points
  • AIFC provides a regulatory sandbox for licensed crypto exchanges and businesses
  • Mining is legal and licensed, with a specific tax on electricity consumption for miners
  • Kazakhstan became the world's second-largest Bitcoin mining country after China's 2021 ban
  • 2022 mining crackdown introduced stricter licensing and energy consumption taxes
  • Outside AIFC, domestic crypto payments and exchanges face greater restrictions
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
Sources
Sources