On July 14, Forbes reported that Hungary has implemented the world's strictest cryptocurrency regulations. The new regulations, which took effect on July 1, may classify digital asset transactions as criminal offenses. According to the new regulations, individuals using unauthorized cryptocurrency exchanges will face up to two years in prison, and large transactions may result in a maximum sentence of five years. Digital bank Revolut has announced an immediate suspension of its crypto services in Hungary, affecting its over 2 million Hungarian users. Industry experts estimate that approximately 500,000 Hungarian citizens hold cryptocurrencies and are currently facing legal risks. [Deep Tide TechFlow]

Hungarian authorities have introduced new restrictions on cryptocurrency trading, creating a legal grey area for an estimated 500,000 Hungarians who own digital assets.

A law was passed through parliament on June 17. It has been enforced since July 1, criminalizing the use of unlicensed exchanges and unauthorized high-value crypto trades, defined as transactions above 50 million Hungarian forints ($146,000) and up to 500 million forints ($1.46 million). Violators face up to two years and five years in prison, respectively, under the updated criminal code. Service providers face even harsher punishment, as rule-breaking could attract as much as eight years in jail.

The new rules, which put the Hungarian National Bank in charge of policing the sector, require all crypto-asset service providers operating in Hungary to obtain a license from the central bank to continue operations legally.

Holding Bitcoin or other cryptocurrencies remains legal. The Supervisory Authority for Regulated Activities has yet to publish application procedures, leaving domestic firms in limbo and global exchanges no path to compliance. Revolut and Bitstamp have already reportedly halted crypto services for Hungarian residents in response.

Regulators say the rules align with the EU’s Markets in Crypto-Assets framework, adding extra safeguards such as a mandatory “conversion-validation certificate” for each trade. Some industry members counter that the penalties—far harsher than those in MiCA—and the absence of any licensing window look designed to stamp out trading rather than regulate it.

Hungarian officials have not commented on a timetable for releasing licensing criteria.

Hungary enforces strict crypto restrictions, including penalties for unlicensed exchange users

According to Forbes, Hungary officially implemented one of the world's most stringent cryptocurrency regulations on July 1, forcing several large fintech companies to suspend related services and potentially criminalizing the digital asset trading activities of hundreds of thousands of citizens. This significant policy change has caused widespread confusion and concern in the fintech sector. London-based digital bank Revolut announced that it is "temporarily suspending cryptocurrency services in Hungary with immediate effect until further notice." Revolut has over 2 million users in Hungary. The company stated that it is "working to restore services as soon as possible" but did not provide a specific timeline for recovery. The suspension covers all new cryptocurrency purchases, staking activities, and top-up operations, but users can still sell existing holdings and transfer some tokens to external wallets. Revolut's other banking services are unaffected. Hungary's new regulations add two new criminal offenses: "abuse of crypto assets" and "providing unauthorized crypto asset exchange services." According to Hungary's latest revised code, individuals using unauthorized cryptocurrency trading services may face up to two years in prison for basic trading activities; if the transaction amount exceeds 50,000,000 Hungarian Forints (approximately $140,000.00), the sentence can be up to three years; and if it exceeds 500,000,000 Forints (approximately $1,400,000.00), the sentence can be up to five years. [ChainCatcher]

Hungary Implements New Crypto Regulations, Designating Certain Digital Asset Transactions as Crimes

According to Forbes, Hungary has implemented new cryptocurrency legislation effective July 1, prohibiting unauthorized digital asset transactions. Individuals using unlicensed crypto trading services will face up to 2 years in prison, with transactions exceeding 50,000,000 forints (approximately $140,000) punishable by 3 years, and those exceeding 500,000,000 forints punishable by 5 years. Unlicensed service providers face prison sentences of up to 8 years. Revolut has announced the suspension of its crypto services in Hungary. Local media reports that approximately 500,000 Hungarians have purchased cryptocurrencies with legal income, and regulatory details have not yet been released. [Foresight News]

Hungary Implements Strict New Crypto Law, Illegal Transactions Could Result in up to 8 Years in Prison

Hungary officially implemented new cryptocurrency legislation on July 1, prohibiting any unlicensed digital asset trading activities. Individuals who use unlicensed crypto services can be sentenced to up to 2 years in prison; those with single transactions exceeding 50,000,000 forints (approximately $140,000.00) can face up to 3 years, and those exceeding 500,000,000 forints can face up to 5 years. Unlicensed service providers can face up to 8 years in prison. It is reported that the fintech platform Revolut has announced the suspension of its cryptocurrency services in Hungary. Local media pointed out that approximately 500,000 Hungarians have invested in crypto assets through legal income, and the details of regulatory enforcement are not yet clear. (Forbes) [Odaily Planet Daily]

Hungary's new crypto law takes effect, with illegal transactions punishable by up to 8 years in prison

Hungary has implemented new cryptocurrency legislation effective July 1st, prohibiting unauthorized digital asset transactions. Individuals using unlicensed crypto trading services will face up to 2 years in prison, with transactions exceeding 50,000,000 forints (approximately $140,000.00) punishable by 3 years, and those exceeding 500,000,000 forints punishable by 5 years. Unlicensed service providers face prison sentences of up to 8 years. Revolut has announced the suspension of its crypto services in Hungary. Local media reports that approximately 500,000 Hungarians have purchased cryptocurrencies with legal income, and regulatory details have not yet been released. [Forbes]

Hungary Implements New Crypto Regulations, Designating Specific Digital Asset Transactions as Criminal Offenses

According to Forbes, Hungary officially implemented one of the world's strictest cryptocurrency regulations on July 1st, forcing many large fintech companies to temporarily suspend related services and potentially categorizing the digital asset trading activities of hundreds of thousands of citizens as criminal. This major policy change has caused widespread confusion and concern in the fintech sector. London-based digital bank Revolut announced, "We are temporarily suspending cryptocurrency services in Hungary with immediate effect until further notice." Revolut has over 2 million users in Hungary. The company stated that it is "working to resume services as soon as possible," but did not provide a specific timeline for the resumption. This suspension covers all new cryptocurrency purchases, staking activities, and recharge operations, although users can still sell their existing holdings and withdraw some tokens to external wallets. Revolut's other banking services are not affected. The new Hungarian regulations have introduced two new criminal offenses: "Cryptocurrency Abuse" and "Providing Unauthorized Cryptocurrency Exchange Services." Under Hungary's latest amended legal code, individuals using unauthorized cryptocurrency trading services may face up to two years in prison for basic transaction activities; if the transaction amount exceeds 50000000 Hungarian forints (approximately $140,000), the maximum sentence can be three years; if it exceeds 500000000 forints (approximately $1.4 million), the maximum sentence can be five years. [BlockBeats News]

Hungary Implements World's Strictest Cryptocurrency Regulations, Digital Asset Trading Could Lead to Prosecution

On July 14, Forbes reported that Hungary officially implemented one of the world's most stringent cryptocurrency regulations on July 1, forcing several large fintech companies to suspend related services and potentially classifying the digital asset transactions of hundreds of thousands of citizens as crimes. This significant policy change has caused widespread confusion and concern in the fintech sector.

Revolut, a London-based digital bank, announced on Friday evening that "cryptocurrency services in Hungary will be temporarily suspended with immediate effect until further notice." Revolut has over 2 million users in Hungary. The company stated that it is "working to restore services as soon as possible" but did not provide a specific timeline for recovery. The suspension covers all new cryptocurrency purchases, staking activities, and top-up operations, but users can still sell existing holdings and transfer some tokens to external wallets. Revolut's other banking services are not affected.

The new Hungarian regulations add two new criminal offenses: "abuse of crypto assets" and "providing unauthorized crypto asset exchange services." According to Hungary's latest revised code, individuals using unauthorized cryptocurrency trading services may face up to two years in prison for basic trading activities; if the transaction amount exceeds 50,000,000 Hungarian Forints (approximately $140,000.00 USD), the sentence can be up to three years; and if it exceeds 500,000,000 Forints (approximately $1,400,000.00 USD), the sentence can be up to five years. [BlockBeats]

Hungary Implements World's Strictest Crypto Regulations, Digital Asset Transactions May Be Criminalized

On July 14, Forbes reported that Hungary officially implemented one of the world's most stringent cryptocurrency regulations on July 1, forcing several large fintech companies to suspend related services and potentially classifying the digital asset transactions of hundreds of thousands of citizens as crimes. This significant policy change has caused widespread confusion and concern in the fintech sector.

Revolut, a London-based digital bank, announced on Friday evening that "cryptocurrency services in Hungary will be temporarily suspended with immediate effect until further notice." Revolut has over 2 million users in Hungary. The company stated that it is "working to restore services as soon as possible" but did not provide a specific timeline for recovery. The suspension covers all new cryptocurrency purchases, staking activities, and top-up operations, but users can still sell existing holdings and transfer some tokens to external wallets. Revolut's other banking services are not affected.

The new Hungarian regulations add two new criminal offenses: "abuse of crypto assets" and "providing unauthorized crypto asset exchange services." According to Hungary's latest revised code, individuals using unauthorized cryptocurrency trading services may face up to two years in prison for basic trading activities; if the transaction amount exceeds 50,000,000 Hungarian Forints (approximately $140,000.00), the sentence can be up to three years; and if it exceeds 500,000,000 Forints (approximately $1,400,000.00), the sentence can be up to five years. [BlockBeats]

While Bitcoin (BTC) and cryptocurrency usage and adoption continues to spread around the world, the latest move in this regard came from Hungary. However, a negative step came from Hungary. Hungary has implemented one of the world's most restrictive cryptocurrency laws as of July 1. With the strict new cryptocurrency laws coming into effect, cryptocurrency trading has become a crime for many citizens, with prison sentences introduced for unauthorized cryptocurrency transactions and services. Accordingly, it introduced prison sentences of up to 5 years for individuals and up to 8 years for service providers who engage in unauthorized crypto trading. Those using unauthorized cryptocurrency trading services face up to two years in prison for simple transactions, up to three years for high-value transactions exceeding 50 million Hungarian forints (about $140,000), and up to five years for transactions exceeding 500 million forints. London-based digital bank Revolut, which has over 2 million Hungarian customers, announced in a statement that it will "temporarily suspend its cryptocurrency services in Hungary immediately and until further notice." “It is incomprehensible why Hungary is applying such restrictive rules while the EU is creating unified standards,” one crypto analyst said. “While some EU countries are postponing the implementation of MiCA, others have already started processing compliance applications.” *This is not investment advice. [Forbes]

MAG7.SSI

Shocking Decision from This Country: One of the World's Most Restrictive Cryptocurrency Laws Has Come into Force!

7月14日，Forbes报道匈牙利已实施了全球最严格的加密货币监管新规。该新规于7月1日起生效，可能将数字资产交易定性为刑事犯罪。根据新规，使用未经授权的加密货币交易所的个人将面临最高两年监禁，而大额交易最高可判五年有期徒刑。数字银行Revolut已宣布立即暂停在匈牙利的加密服务，影响其超过200万匈牙利用户。业内专家估计约有50万匈牙利公民持有加密货币，当前正面临法律风险。[Deep Tide TechFlow]

匈牙利实施新的加密货币法规，将特定的数字资产交易定为刑事犯罪。

7月14日，Forbes報道匈牙利已實施了全球最嚴格的加密貨幣監管新規。該新規於7月1日起生效，可能將數字資產交易定性爲刑事犯罪。根據新規，使用未經授權的加密貨幣交易所的個人將面臨最高兩年監禁，而大額交易最高可判五年有期徒刑。數字銀行Revolut已宣佈立即暫停在匈牙利的加密服務，影響其超過200萬匈牙利用戶。業內專家估計約有50萬匈牙利公民持有加密貨幣，當前正面臨法律風險。[Deep Tide TechFlow]