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Disappointing Stance of Hungarian Parties Towards Cryptocurrencies
The Cseh Republic has taken a significant step forward in promoting the development and innovation of cryptocurrencies by introducing a new tax law. As of January 1, 2025, cryptocurrency transactions held for more than three years will be exempt from capital gains tax, similar to traditional securities. Additionally, any annual income below 100,000 Czech koruna (approximately 1.64 million Hungarian forints) will also be exempt from taxation.
In stark contrast, Hungary’s political parties have failed to demonstrate a comparable level of enthusiasm and commitment towards the growth and innovation of cryptocurrencies. Despite their potential economic and innovative benefits, the country’s politicians seem to be largely indifferent to the issue.
The Momentum and Jobbik parties do provide positive examples, but unfortunately, they are exceptions rather than the norm. The general lack of interest from Hungarian political parties is hindering the nation’s ability to participate in this rapidly evolving global landscape.
As the global cryptocurrency market continues to grow at an unprecedented rate, it has become clear that Hungarian policymakers must come to terms with the reality of this phenomenon and start taking steps towards embracing its potential. The fact that politicians are ignoring the issue will only lead to long-term disadvantages for the country.
Just as technology cannot be stopped, neither can the rise of cryptocurrencies be ignored. It is time for Hungary to keep pace with the rest of the world.
Source: www.bitcoinbazis.hu
