Hungary Brings Crypto Rules in Line with the EU's MiCA Regime
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Hungary's adoption of EU MiCA-aligned rules removes local verification frictions and eliminates certain crypto-related criminal offenses, reducing regulatory uncertainty and compliance burden for crypto asset service providers. The rollback should improve market access and operational efficiency for exchanges, payment institutions, and intermediaries, supporting smoother onshore activity within the EU single-market framework. Near term, the headline is constructive for broader crypto risk sentiment.
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Hungary has moved to harmonize its crypto regime with the EU's Markets in Crypto-Assets (MiCA) framework. Bitcoin.com reported that on July 31 the Hungarian Parliament approved Act XXXVIII of 2026, which took effect on August 7. The new law scrapped a prior domestic requirement that crypto conversions undergo verification checks in order to be carried out legally.
The legislation also deleted two crypto-related offenses from Hungary's criminal code: "abuse of crypto assets," previously punishable by up to five years' imprisonment, and "providing crypto asset exchange services without authorization," previously punishable by up to eight years.
András Gaál, a lawyer at Schonherr, said the provisions were inconsistent with EU internal market principles and duplicated requirements already covered by MiCA, which became fully applicable on July 1 this year. Katalin Horváth, a partner at CMS Budapest, said payment institutions, crypto asset service providers, and intermediaries that had been subject to the verification obligations should now begin dismantling those procedures.
