Montenegro vs Malta
Crypto regulation comparison
Montenegro
Malta
Legal
Legal
Montenegro has no specific crypto law but crypto is not prohibited. Working toward EU candidacy and potential MiCA alignment. Capital gains taxed under general provisions.
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
9-15%
Tax Rate
0-35%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Central Bank of Montenegro, Capital Market Authority
Regulator
MFSA (Malta Financial Services Authority)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Regulated under MFSA VFA framework and EU MiCA
Key Points
- No specific cryptocurrency legislation but crypto is legal
- Working toward EU candidacy and MiCA alignment
- Capital gains on crypto taxed at 9-15%
- Central Bank has acknowledged crypto without banning it
- Growing interest in crypto-friendly policies
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