Hungary vs Cambodia
Crypto regulation comparison
Hungary
Cambodia
Legal
Restricted
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.
Cambodia has a restrictive stance on cryptocurrency. The National Bank of Cambodia prohibits banks and financial institutions from dealing in crypto, and unlicensed crypto businesses are illegal. However, the government has shown interest in blockchain technology and launched Bakong, a CBDC-like payment system.
Tax Type
Capital gains
Tax Type
Unclear
Tax Rate
15%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
MNB (Magyar Nemzeti Bank)
Regulator
National Bank of Cambodia (NBC), SERC
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
Bakong (CBDC) promoted as alternative; private stablecoins not specifically regulated
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
Key Points
- NBC issued a 2018 directive prohibiting banks from dealing in cryptocurrency
- Unlicensed crypto exchanges and trading platforms are banned
- Bakong digital payment system launched in 2020 using blockchain technology
- SERC (Securities and Exchange Regulator) has discussed regulating crypto as digital assets
- Despite restrictions, peer-to-peer crypto usage remains significant