Bill T/305 passed parliamentary vote 143-46, with 1 abstention, on July 28, 2026.
Prior to this vote, it was illegal to trade crypto in Hungary without clearance from government-approved verifiers.
These validators were tasked with checking asset sources, wallet ownership, and client information before certifying any prospective crypto transactions as compliant. In practice, this created an additional layer of gatekeeping that sat on top of the checks exchanges already perform, adding cost and delay to routine transactions and discouraging platforms from serving Hungarian customers.
‘Crypto Asset Abuse’ Laws Lifted
Laws pertaining to the ‘abuse of crypto assets’ were introduced in 2025 under Prime Minister Viktor Orbán’s government. Transactions between 5 and 15 million forints (roughly ,000 – 0,000) were reportedly punishable by a two-year prison sentence, with up to five years for higher amounts.
Hungarian Finance Minister András Kármán states that the rules disrupted the market and caused providers such as Revolut, eToro, and CoinCash to halt or limit their operations.
The EU Commission opened infringement proceedings against these laws in early 2026 on the basis that they conflicted with MiCA regulations. MiCA, the Markets in Crypto-Assets framework, is the European Union’s harmonised rulebook for digital assets, designed to let a firm licensed in one member state operate across the bloc. National rules that clashed with it therefore risked fragmenting the single market.
Crypto oversight is still in place, as the new bill does not remove or restrict existing MiCA compliance guidelines.
Are Hungary’s New Laws Good for Crypto?
Opponents of the bill argue that repealing existing regulations creates opportunities for money laundering and for financing by terrorist groups or political parties.
Supporters, on the other hand, point out that AML and KYC laws remain covered by MiCA. Anti-Money Laundering (AML) and Know Your Customer (KYC) obligations still require platforms to verify user identities and monitor suspicious activity, so the removal of the separate verifier regime does not leave the sector unregulated.
Very few firms were licensed as validators since 2025. 74% of active Hungarian crypto users traded with Revolut, and the company ceased local operations; the number of citizens trading crypto fell by 80,000, a 38% drop, according to PwC.
The lifting of these restrictions is believed by many to encourage crypto operators to re-enter Hungary, signaling a crypto-friendly environment that remains compliant with EU laws. Aligning the national regime with MiCA also reduces legal uncertainty for both providers and users, and brings Hungary back into step with the wider European approach to digital-asset supervision.
Source: CryptoPotato
