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

A Perspective on the Indian Cryptocurrency Market: Descending into Silence or Moving Towards Maturity?

The Indian cryptocurrency industry has not gone silent; it is steadily maturing towards diversification.

It took me a year to see the painful truth about Agent payments

Among the four major tracks of Agent purchasing, Agent API, Agent inter-payment, and Agent finance, currently only Agent finance has real users and willingness to pay. But worse than having no demand is that the real competition point has never been payment...

Morning News | Bitmine issues preferred shares to raise $300 million; Polymarket accuses Kalshi of industrial espionage

Overview of Important Market Events on June 4th

Privacy coin trust crisis! ZEC plummets over 56% in a single day

The recent increase in ZEC is nearly 3 times, and the vulnerability news may have just provided an opportunity to exit.

Who is leading the price discovery in the cryptocurrency market? Measured delays on platforms like Binance and Hyperliquid

There is a saying circulating on crypto Twitter: Hyperliquid has replaced Binance and become the center of crypto price discovery. Arrakis conducted a cross-platform test using the tick-by-tick transaction data from 29 perpetual markets, and the truth lies within milliseconds.

Anthropic launches IPO: Business miracle or valuation bubble?

Human economy is transitioning from a carbon-based drive to a dual-engine drive of carbon-based and silicon-based, which is what is truly happening behind Anthropic's IPO.
Unlock your new user rewards
Sign up now and complete tasks to get 10,000+ USDT
Unlock your new user rewardsSign up and get 10 USDT

Popular coins

Latest Crypto News

11:42

Data: Ethereum co-founder Joseph Lubin's associated address has staked over 410,000 ETH, and the health has risen to above 1.48

According to on-chain analyst @ai_9684xtpa, three addresses likely belonging to Ethereum co-founder Joseph Lubin have currently pledged 412,430 ETH, worth approximately $653 million, and borrowed 259 million DAI.Data shows that the health of the aforementioned positions briefly fell below 1.2 during...
11:42

Catcher Predict: "Milwaukee Brewers vs. Colorado Rockies" "O/U 10.5" Winning rate plummets 32.5%

According to monitoring by Catcher Predict, in the predicted market event "Milwaukee Brewers vs. Colorado Rockies" on Polymarket, the "Over" option in the sub-market "O/U 10.5" has experienced a drastic fluctuation in win probability, dropping from 53.5% an hour ago to the current 21% (a fluctuation...
10:42

Data: In the past 24 hours, the total liquidation across the network was 406 million USD, with long positions liquidated at 254 million USD and short positions liquidated at 152 million USD

According to Coinglass data, in the past 24 hours, the total liquidation across the network was $406 million, with long positions liquidated at $254 million and short positions liquidated at $152 million. Among them, Bitcoin long positions were liquidated at $42.9501 million, Bitcoin short positions...
10:42

Data: A week ago, the Ethereum OG who sold 60,000 ETH at a high price is now spending $55.8 million to repurchase at a low price

According to monitoring by Lookonchain, an Ethereum OG who sold 60,000 ETH (worth $117.25 million) at a price of about $2040 and 9442 wstETH (worth $24 million) a week ago is now repurchasing ETH.In the past two days, they have spent $55.8 million, buying 35,723 ETH at an average price of $1563 per ...
10:42

Data: The current whale position on the Hyperliquid platform is 3.999 billion USD, with a long-short position ratio of 0.98

According to Coinglass data, the current whale holdings on the Hyperliquid platform amount to $3.999 billion, with long positions of $1.981 billion, accounting for 49.54% of the holdings, and short positions of $2.018 billion, accounting for 50.46%. The profit and loss for long positions is -$247 mi...
Read more
Community
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com