Hungary Ditches Strict Crypto Rules, Clearing Path for Industry Growth
Hungary has taken a significant step towards embracing cryptocurrency by repealing its strict third-party verification requirements. The nation's parliament voted in favor of Bill T/305 on July 28, 2026, with a majority of 143-46, effectively clearing the way for crypto industry growth.
The previous laws, introduced in 2025 under Prime Minister Viktor Orbán's government, made it illegal to trade crypto without clearance from government-approved verifiers. These validators were tasked with checking asset sources, wallet ownership, and client information before certifying transactions as compliant.
However, these regulations had a significant impact on the market, causing providers such as Revolut, eToro, and CoinCash to either halt or limit their operations in Hungary. The EU Commission had also opened infringement proceedings against the laws due to conflicts with MiCA regulations.