Hungary to reverse crypto trading crackdown after EU scrutiny
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- Hungary passed a 2025 legislative package amending its Criminal Code and Act VII of 2024 (the Crypto Act) to regulate crypto trading.
- Crypto conversion validation service provider is a new entity type authorized by Hungary’s Supervisory Authority of Regulated Activities to issue compliance certificates for crypto transactions.
- Unauthorized crypto transactions without a compliance certificate are treated as invalid and can carry prison terms of up to two years for 5–50 million forint, five years for 50–500 million forint, and eight years for over 500 million forint.
- Hungary is reversing the crackdown after EU scrutiny and the April 12 parliamentary election that ended Viktor Orban’s 16‑year rule and installed Peter Magyar’s pro‑European Tisza Party.
- European Commission has called on 12 countries to implement crypto tax rules, adding pressure on Hungary’s crypto policy.
- The Block reports that Hungary will scrap Orban‑era crypto rules that carried jail terms.
Why it matters: Crypto traders and exchange platforms in Hungary gain legal certainty as the prison‑risk regime is lifted, while the government eases its clash with the EU and signals a policy shift under the new pro‑European administration. The change also removes the threat of up to eight‑year jail terms for large crypto trades.
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