Key Takeaways:
Bloomberg reports that Hungary’s Tisza government scraps 8-year prison terms for crypto trading, reversing Orban’s 2025 rules.Revolut, forced out by Hungary’s validation law, now has a path to restore crypto services in 2026.New MiCA-aligned legislation is expected in the coming weeks as Hungary drafts its replacement framework.Transactions without a valid certificate were legally void.
Criminal Penalties That Drove Out Major PlatformsThe penalties scaled with transaction size:
Service providers and exchanges faced up to 8 years in prison for operating without proper Central Bank of Hungary (MNB) licensing. Individual users faced 2 to 5 years depending on transaction value, with thresholds roughly tied to 50 to 500 million HUF (approximately $162,000 to $1.62 million).At a June 11 press conference, government spokesperson Anita Köböl confirmed the government would unwind the measures, calling the prior legislation “an unnecessary piece of legislation” that “made practical operation impossible and frightened the market participants.”
Science and Technology Minister Zoltán Tanács had signaled the week before that criminal penalties would go, describing the rules as politically driven rather than market-protective.
Planned changes include:
Full abolition of the mandatory validation certificate requirement. Complete decriminalization of crypto trading and related services. Removal of all jail terms for users and service providers. A new regulatory framework built around EU MiCA licensing standards. What Comes NextThe transition timeline, including new legislation drafts and any grandfathering provisions, will determine how quickly normal market activity resumes. Further legislative details are expected over the coming weeks and months.
