Hungary vs Malta
Crypto regulation comparison
Hungary
Malta
Legal
Legal
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.
Malta positioned itself as the 'Blockchain Island' with the 2018 Virtual Financial Assets (VFA) Act, one of the world's first comprehensive crypto regulatory frameworks. The MFSA licenses VFA service providers and oversees ICOs. Long-term crypto holdings are generally not subject to capital gains tax for individuals, while trading profits may be taxed as income.
Tax Type
Capital gains
Tax Type
Capital gains
Tax Rate
15%
Tax Rate
0-35%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
MNB (Magyar Nemzeti Bank)
Regulator
MFSA (Malta Financial Services Authority)
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
Regulated under MFSA VFA framework and EU MiCA
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
- Virtual Financial Assets Act (2018) provides a comprehensive licensing framework
- MFSA licenses VFA exchanges, brokers, custodians, and portfolio managers
- Long-term crypto holdings generally not subject to capital gains tax for individuals
- Day trading profits may be taxed as business income at progressive rates up to 35%
- Transitioning to EU MiCA framework from December 2024