Making a living with cryptocurrency in Hungary from 2022?

I have good news for you, if you live in Hungary or if you consider/thinking about coming to live in Hungary.

I read in this article that there will be new cryptocurrency tax rules from 2022.

The tax percentage will be reduced from 30% to 15%, and if you make profit in a year lower than the local monthly minimum wage, which is currently 167 400 Hungarian Forint (HUF) (currently $520.33 USD) per month, then you do not have to pay tax on your cryptocurrency profits at all. Not even if you exchange it to fiat currency. If you exchange one cryptocurrency to another, then you also do not have to pay tax.

You have to pay tax only if you exchange cryptocurrency to fiat money, and you get more money from the transaction(s) in the year than the local monthly minimum wage, which probably will be bigger than the current local monthly minimum wage.

And the new law can be also applied to the tax year of 2021.

@cwow2 would love this. He lives in Denmark, and they pay a tax percentage of around 52% or 55%. Or at least this is what I have heard.

At least Hungary is making this part a little bit easier for us. I will have a better chance to get out of the financial discrimination. Nowadays I (and many other people) live under the local minimum wage.