Hungary Implements World's Strictest Cryptocurrency Regulations, Digital Asset Trading Could Lead to Prosecution

By: theblockbeats.news|2025/07/14 19:02:01
0
Share
copy

BlockBeats News, July 14th. According to Forbes, Hungary officially implemented one of the world's strictest cryptocurrency regulations on July 1st, forcing many large fintech companies to temporarily suspend related services and potentially categorizing the digital asset trading activities of hundreds of thousands of citizens as criminal. This major policy change has caused widespread confusion and concern in the fintech sector.

London-based digital bank Revolut announced, "We are temporarily suspending cryptocurrency services in Hungary with immediate effect until further notice." Revolut has over 2 million users in Hungary. The company stated that it is "working to resume services as soon as possible," but did not provide a specific timeline for the resumption. This suspension covers all new cryptocurrency purchases, staking activities, and recharge operations, although users can still sell their existing holdings and withdraw some tokens to external wallets. Revolut's other banking services are not affected.

The new Hungarian regulations have introduced two new criminal offenses: "Cryptocurrency Abuse" and "Providing Unauthorized Cryptocurrency Exchange Services." Under Hungary's latest amended legal code, individuals using unauthorized cryptocurrency trading services may face up to two years in prison for basic transaction activities; if the transaction amount exceeds 50 million Hungarian forints (approximately $140,000), the maximum sentence can be three years; if it exceeds 500 million forints (approximately $1.4 million), the maximum sentence can be five years.

You may also like

Morning Report | DeepSeek completes over $7 billion in financing, with a valuation exceeding $50 billion; Musk's personal wealth has surpassed the total market value of Bitcoin

Overview of Important Market Events on June 16

SharpLink CEO: How to understand that Ethereum developers have just surpassed 1 million?

The most important question in the cryptocurrency industry is not which chain is the fastest, but rather where top builders choose to build in the long term. Ethereum has just surpassed one million cumulative developers; what does this number mean?

Morning Report | MiCA grace period expires on July 1; Kalshi's trading volume in the first week of the World Cup breaks $5.1 billion, setting a record

Overview of Important Market Events on June 15

The foundation of SpaceX's trillion-dollar valuation: Who is dividing Musk's annual capital expenditure of tens of billions?

SpaceX Supply Chain Revealed: The Invisible Gold Mine Behind the Trillion-Dollar "Space Dream," from Nvidia's Computing Power Monopoly to China's Sole Supplier of Special Materials, these overlooked water-selling talents are the true wealth creation engine.

How to exit after asset tokenization?

Currently, three models have emerged, aimed at providing instant exit routes for tokenized real-world assets. Their differences lie in: who holds the funds required for exit, how efficiently the funds operate, and the extent to which this model can be scaled across different asset types.

The stablecoin positioning battle escalates: When compliance is just a ticket to entry, will USD1 become the biggest winner?

How does the GENIUS Act reshape the stablecoin landscape?
1,000 BTC Protection Fund
1:1 proof of reserves and on-chain verification to keep your funds secure.
1,000 BTC Protection FundVerify now

Popular coins

Latest Crypto News

10:43

MetaPlanet's BTC reserves face a dual-edged sword challenge in exchange rates after the Bank of Japan raised interest rates. OSL Group, in collaboration with the Hong Kong Polytechnic University, released a report stating that corporate cross-border tr...

According to BBX data, yesterday's interest rate hike in Japan coincided with the Federal Reserve's decision window, creating the most intense macroeconomic shock point of the week. The latest results of institutional stablecoin research were released on the same day, with the core dynamics as follo...
10:43

Data: The current whale position on the Hyperliquid platform is 4.766 billion USD, with a long-short position ratio of 1.02

According to Coinglass data, the current whale holdings on the Hyperliquid platform amount to $4.766 billion, with long positions totaling $2.408 billion, accounting for 50.52% of the holdings, and short positions totaling $2.358 billion, accounting for 49.48% of the holdings. The profit and loss fo...
10:43

The Russian government will allow USDC to enter its regulated cryptocurrency market

According to Cryptopolitan, Ivan Chebeskov, Deputy Minister of Finance of Russia, stated that USDC will be included in the list of approved cryptocurrencies for trading in Russia, alongside USDT, Bitcoin, and Ethereum. Previously, the Central Bank of Russia had indicated that no more tokens would be...
10:43

Data: DIP tokens on the BSC chain were attacked, resulting in a loss of approximately $111,100

According to TenArmorAlert monitoring, the DIP token on the BSC chain was attacked, resulting in a loss of approximately $111,100.
10:43

Financial Regulatory Authority: Eliminate regulatory gaps and blind spots, ensure full coverage, with no exceptions

At the 2026 Lujiazui Forum, Ding Xiangqun, Director of the National Financial Regulatory Administration, stated that efforts should be made to strengthen regulation, eliminate regulatory gaps and blind spots, and ensure full coverage without exceptions. Ding Xiangqun emphasized the need to focus on ...
Read more
Community
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com