Is crypto legal in Malta?

“The Virtual Financial Assets Act (Chapter 590 of the Laws of Malta) sets out a framework for the regulation of issuers of virtual financial assets, VFA agents and VFA service providers, including licensing requirements and ongoing obligations applicable to VFA service providers.”

““This Act may be cited as the Virtual Financial Assets Act.” … “virtual financial asset” means any form of digital medium recordation that is used as a digital medium of exchange, unit of account, or store of value and that is not electronic money, a financial instrument, or a virtual token.”

“Where the Financial Tokens are held as capital assets, any gains or profits realised on their transfer would generally be treated as capital gains chargeable to tax in terms of article 5 of the Income Tax Act, provided that the requirements of that article are satisfied.”

“The Guidelines on the income tax treatment of transactions or arrangements involving Distributed Ledger Technology (DLT) were first published on 1 November 2018 and subsequently updated on 21 October 2019… The Guidelines also cover the income tax treatment of transactions involving coins and tokens, including utility tokens, security tokens and virtual financial assets.”

“The MFSA wishes to alert the public, in Malta and abroad, that Bitcoin Revolution is NOT a Maltese regulated entity. Furthermore, information available to the MFSA suggests that Bitcoin Revolution is likely to be an international ‘get-rich-quick’ cryptocurrency scam.”