Malta

Malta has a very accepting approach towards cryptocurrencies. It is considered a global leader as it pertains to crypto regulation.

Even though cryptocurrencies are not considered legal tender, they are recognized as “a medium of exchange, a unit of account, or a store of value”.

There is no specific tax legislation for cryptocurrencies, and the value added tax is not applicable to cryptocurrency transactions.

Cryptocurrency exchanges are completely legal and the government of Malta introduced new legislation in 2018 that defines a regulatory framework for cryptocurrencies.

The legislation includes the Virtual Financial Assets Act, which establishes a regulatory regime relevant for crypto exchanges, brokers, wallet providers and ICOs.