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Malta vs United States

Crypto regulation comparison

← Back to map | Malta | United States
Malta

Malta

United States

United States

Legal
Legal

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.

The United States has the world's most complex crypto regulatory landscape, with overlapping federal and state jurisdictions. The SEC regulates crypto securities and has pursued enforcement actions against exchanges and token issuers. The CFTC oversees crypto derivatives and considers Bitcoin a commodity. FinCEN applies BSA requirements to crypto exchanges as money service businesses. The IRS taxes crypto as property: short-term gains at income tax rates (10-37%), long-term gains at 0-20%. New 1099-DA broker reporting rules take effect from 2025. Multiple states have their own requirements, with New York's BitLicense being the most stringent.

Tax Type Capital gains
Tax Type Capital gains
Tax Rate 0-35%
Tax Rate 0-37%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator MFSA (Malta Financial Services Authority)
Regulator SEC, CFTC, FinCEN, OCC, IRS, State regulators
Stablecoin Rules Regulated under MFSA VFA framework and EU MiCA
Stablecoin Rules Stablecoin legislation actively being developed in Congress; existing oversight by SEC, CFTC, state regulators
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
  • SEC regulates crypto as securities under Howey test; major enforcement actions (Ripple, Coinbase, Binance)
  • CFTC classifies Bitcoin and Ether as commodities; oversees derivatives markets
  • IRS treats crypto as property: short-term gains taxed at 10-37%, long-term (1yr+) at 0-20%
  • FinCEN requires exchanges to register as MSBs and comply with BSA/AML requirements
  • 1099-DA broker reporting for centralized exchanges effective from tax year 2025
Sources
Sources