Hungary issued a statement saying that it is currently considering the regulation of encryption tools. The Hungarian central bank, the tax authorities, the Ministry of Finance and other departments have set up a joint working group on the legal, economic, law enforcement, money laundering and other aspects of digital currency. The assessment is carried out with a view to introducing more detailed regulatory measures. According to local tax experts, the country’s personal income tax law treats transactions in Bitcoin and other digital currencies as “other income” and therefore requires a 15% personal income tax and a 22% health contribution.
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