Cryptocurrency is legal in Hungary and operates under the European Union's Markets in Crypto-Assets Regulation implemented through Act VII of 2024 on the market in crypto-assets adopted in April 2024. The Hungarian legislature designated the National Bank of Hungary as the competent authority responsible for ensuring compliance of crypto-asset service providers with MiCAR. According to the regulation, crypto-assets are divided into three categories: electronic money tokens, asset-referenced tokens, and other crypto-assets (1).
All crypto-asset service providers operating in Hungary must obtain authorization from the Magyar Nemzeti Bank before providing services. Minimum capital requirements range from fifty thousand euros for basic services to one hundred fifty thousand euros for operators of trading platforms. The MNB possesses a wide range of powers to intervene in cases of legal violations or threats to consumer interests, including issuing warnings, imposing fines up to five billion forints, suspending activities, and restricting online content (1).
"The MNB has a wide range of powers and measures to intervene in case of legal violations or direct threats to the interests of consumers, investors or the financial system."
From July 1, 2025, strict penalties took effect for individuals and companies involved in unauthorized cryptocurrency trading. Under updated Criminal Code provisions, using unauthorized crypto exchanges can lead to two years imprisonment, with longer terms for larger trades exceeding five hundred million forints potentially resulting in five-year sentences. Crypto service providers operating without authorization face imprisonment ranging from three to eight years depending on transaction values, creating significant compliance pressure as regulatory guidelines remain under development (2).
Source:
https://www.schoenherr.eu/content/hungary-aligns-crypto-asset-regulation-with-eu-rules-and-enhances-consumer-protection
https://www.mnb.hu/letoltes/casp-tevekenysegi-engedelyezesi-utmutato-en.pdf
Last updated: 18-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
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