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Malta vs Pakistan

Crypto regulation comparison

← Back to map | Malta | Pakistan
Malta

Malta

Pakistan

Pakistan

Legal
Restricted

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.

Pakistan has a hostile regulatory environment for cryptocurrency. The State Bank of Pakistan has prohibited financial institutions from facilitating crypto transactions, and the government has considered outright bans. Despite this, Pakistan has high informal crypto adoption, ranking among the top countries for P2P crypto volume. The SECP has explored blockchain regulation but no licensing framework exists for exchanges.

Tax Type Capital gains
Tax Type None
Tax Rate 0-35%
Tax Rate N/A
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator MFSA (Malta Financial Services Authority)
Regulator SBP (State Bank of Pakistan), SECP
Stablecoin Rules Regulated under MFSA VFA framework and EU MiCA
Stablecoin Rules No regulation; SBP has not authorized any crypto activities
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
Key Points
  • SBP prohibits banks and financial institutions from processing crypto transactions
  • No licensing framework for crypto exchanges; operating informally is risky
  • High P2P crypto adoption despite regulatory hostility
  • Government has considered formal banning legislation multiple times
  • SECP has explored digital asset regulation but no framework enacted
Sources
Sources