Malta vs Portugal: crypto regulation compared

Side-by-side across all nine dimensions, each value linked to its primary government source.

Dimension	Malta	Portugal
CBDC status	Pilot cbdctracker.org ↗	Pilot cbdctracker.org ↗
Legal status	—	—
VASP licensing	Regime in force Malta Financial Services Authority (MFSA) ↗	Regime in force Banco de Portugal ↗
Stablecoin rules	In force Government of Malta / Malta Financial Services Authority (MFSA) ↗	In force Banco de Portugal ↗
Tax treatment	Capital gains Commissioner for Revenue (Malta) ↗	Mixed (CGT + income) Autoridade Tributária e Aduaneira (AT - Portuguese Tax and Customs Authority) ↗
DeFi treatment	—	Unaddressed Banco de Portugal ↗
NFT classification	Addressed Commissioner for Revenue (Office of the Commissioner for Revenue, Government of Malta) ↗	—
Mining policy	—	—
Enforcement intensity	High Malta Financial Services Authority (MFSA) ↗	—