Unauthorized crypto trading now carries 2 years of prison in Hungary
2025-07-15 03:47:49
Main Idea
Hungary has introduced strict penalties, including prison sentences, for unauthorized crypto trading and running unauthorized crypto exchanges, with the law now classifying such activities as criminal offenses.
Key Points
1. Unauthorized crypto trading or running unauthorized exchanges in Hungary now carries a prison sentence of up to two years.
2. The law applies to transactions between 5 million to 50 million forints ($14,600 to $145,950), with higher penalties for larger amounts.
3. Hungary’s Supervisory Authority for Regulatory Affairs (SZTFH) has 60 days to develop compliance frameworks for the new laws.
4. Revolut has reportedly pulled its services from Hungary due to the new regulations.
5. Penalties escalate with the value of transactions, reaching up to eight years in prison for offenses involving over 500 million forints ($1.46 million).
Description
Hungary has updated its Criminal Code, imposing potential prison sentences for those using or running unauthorized crypto exchanges.
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