Malawi vs Seychelles
Crypto regulation comparison
Malawi
Seychelles
No Regulation
Legal
Malawi has no specific cryptocurrency regulation. The Reserve Bank of Malawi has issued warnings about crypto risks but has not banned it.
The VASP Act 2024 effective Sept 2024 establishes FSA as regulator for virtual asset service providers. Exchanges require licensing. Mining and mixer/tumbler services are prohibited in Seychelles.
Tax Type
None
Tax Type
No tax
Tax Rate
N/A
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
No
Regulator
Reserve Bank of Malawi
Regulator
Financial Services Authority (FSA)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Regulated under VASP Act 2024
Key Points
- No specific cryptocurrency legislation
- Reserve Bank of Malawi warns about crypto risks
- Crypto not recognized as legal tender
- Limited crypto infrastructure and adoption
- No licensing framework for crypto services
Key Points
- VASP Act 2024 enacted Aug 30, effective Sept 1, 2024
- FSA licenses and supervises all virtual asset service providers
- Mining facilities and mixer/tumbler services prohibited
- VASPs must maintain local office and resident director
- Licensed IBC VASPs taxed at 1.5% on assessable income