Hungary vs Pakistan
Crypto regulation comparison
Hungary
Pakistan
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.
Pakistan has a hostile regulatory environment for cryptocurrency. The State Bank of Pakistan has prohibited financial institutions from facilitating crypto transactions, and the government has considered outright bans. Despite this, Pakistan has high informal crypto adoption, ranking among the top countries for P2P crypto volume. The SECP has explored blockchain regulation but no licensing framework exists for exchanges.
Tax Type
Capital gains
Tax Type
None
Tax Rate
15%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
MNB (Magyar Nemzeti Bank)
Regulator
SBP (State Bank of Pakistan), SECP
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
No regulation; SBP has not authorized any crypto activities
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
- SBP prohibits banks and financial institutions from processing crypto transactions
- No licensing framework for crypto exchanges; operating informally is risky
- High P2P crypto adoption despite regulatory hostility
- Government has considered formal banning legislation multiple times
- SECP has explored digital asset regulation but no framework enacted