Hungary vs Nigeria
Crypto regulation comparison
Hungary
Nigeria
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.
Nigeria has the highest crypto adoption rate in Africa and among the highest globally. After the CBN banned banks from servicing crypto exchanges in 2021 (driving activity to P2P), the ban was lifted in December 2023. The SEC Nigeria now regulates digital asset exchanges and issuances under its Accelerated Regulatory Incubation Programme (ARIP). Nigeria's progressive rates up to 25% applies to crypto disposals.
Tax Type
Capital gains
Tax Type
Capital gains
Tax Rate
15%
Tax Rate
Progressive: up to 25% (individuals) / 30% (companies)
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
MNB (Magyar Nemzeti Bank)
Regulator
SEC Nigeria, CBN (Central Bank of Nigeria)
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
Stablecoins subject to SEC digital asset rules
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
- CBN lifted the 2021 banking ban on crypto in December 2023
- SEC Nigeria oversees VASPs under the Investments and Securities Act and ARIP
- Progressive rates up to 25% applies to profits from crypto asset disposals according to Nigeria Tax Act 2025 (eff. Jan 2026)
- Nigeria ranks among the top 5 globally for crypto adoption (Chainalysis index)
- P2P trading dominates the market; Binance and other platforms face regulatory scrutiny