Guatemala vs Hungary
Crypto regulation comparison
Guatemala
Hungary
No Regulation
Legal
Guatemala has no specific cryptocurrency regulation. The Banco de Guatemala has stated that crypto is not legal tender and not backed by the central bank, but has not banned its use. Crypto usage exists primarily for remittances from the US-based diaspora.
Cryptocurrency is legal in Hungary and subject to a 15% personal income tax on gains. Hungary follows EU regulatory frameworks including MiCA. The MNB supervises crypto service providers, and the country has a growing blockchain and crypto ecosystem.
Tax Type
Unclear
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
15%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Banguat (Banco de Guatemala), SIB
Regulator
MNB (Magyar Nemzeti Bank)
Stablecoin Rules
No stablecoin-specific regulation
Stablecoin Rules
Regulated under EU MiCA framework
Key Points
- No specific cryptocurrency legislation exists
- Banguat has warned that crypto is not legal tender and not government-backed
- Crypto is neither explicitly legal nor illegal for private use
- Remittance use case is significant given large diaspora in the US
- Tax treatment of crypto gains is unclear
Key Points
- 15% personal income tax on crypto gains
- Additional social contribution tax may apply to certain crypto income
- MNB supervises VASPs for AML/KYC compliance
- MiCA framework applicable from December 2024
- Hungary's tax rate on crypto is competitive within the EU