Ungarn, um Verstöße gegen den Krypto-Asset-Austausch mit einer restriktiven Validierungsverpflichtung für Dienstleister und Klienten zu kriminalisieren

The law is in effect from today, but there is absolutely nobody with a certificate, and there are no publicly known validation service providers or even published rules for them to follow (only a 60 days deadline for the authorities).

Note that the new law applies to both crypto-fiat and crypto-crypto conversions.

The amounts are given in HUF, see the following for better understanding:

For individuals involved in the transactions of value:

* Above HUF 5M is around $15,000 (2 years in prison)
* Above HUF 50M is around $150,000 (5 years)
* Above HUF 500M is around $1,5M (8 years)

For conversion service providers:

* Above HUF 5M is around $15,000 (3 years in prison)
* Above HUF 500M is around $1,5M (8 years)

It’s currently unclear if the authorities would go after international providers or individuals doing transactions with Hungarian nationals or even making the service available for Hungarians.

tldr; Hungary has amended its Crypto Act and Criminal Code to introduce stricter regulations for crypto-asset exchanges, effective July 1, 2025. Exchanges must obtain compliance certificates from authorized validation service providers, who will verify transaction details and user profiles. Unauthorized exchanges or violations of validation requirements can lead to criminal penalties, including imprisonment. Critics argue the regulations centralize processes, hinder innovation, and may drive businesses abroad, impacting Hungary’s competitiveness in the crypto market.

*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.