Malta vs Eswatini
Crypto regulation comparison
Malta
Eswatini
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.
Eswatini has no specific cryptocurrency regulation. The central bank has cautioned about crypto risks but has not banned it.
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
- No specific cryptocurrency legislation
- Central bank has cautioned about crypto risks
- Crypto not recognized as legal tender
- Limited crypto adoption
- Part of the Common Monetary Area with South Africa