Hungary’s New Crypto Law Leaves 500,000 Holders in Legal Grey Area
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A new Hungarian law has created uncertainty for an estimated 500,000 crypto owners by criminalizing the use of unlicensed exchanges and high-value trades.
Enacted on July 1, the legislation imposes prison terms of up to five years for individuals and eight years for businesses operating without approval.
While holding crypto remains legal, the lack of licensing guidelines has forced firms like Revolut and Bitstamp to exit the market.
The Hungarian National Bank now controls crypto oversight, but with no clear compliance path, the future of digital asset trading in Hungary remains unclear.
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