The global practice of cryptocurrency regulation continues, with different measures being taken in various countries. Some are increasing restrictions while others are beginning to adapt their legislation.
News from Hungary
On July 14, 2025, Hungary passed a law that turns "unauthorized crypto trading" into a crime punishable by several years in prison. Other governments are also tightening restrictions around cryptocurrencies. Providing unlicensed crypto trading services is now considered a criminal offense, leading several major crypto platforms to halt operations in the country.
Ambiguous signals from Russia
Until 2020, cryptocurrencies had no legal status in Russia and were deemed as "money surrogates." In 2022, efforts began towards moderate crypto regulation. However, the crypto market remains in a grey area, while Russia is among the top Bitcoin miners. In 2025, the Bank of Russia introduced legislation restricting crypto transactions for most citizens.
China to rethink its tough stance on crypto
China, once a leader in Bitcoin mining, became one of the least crypto-friendly jurisdictions following a series of bans. Leaks in 2025 suggested that the Chinese government might reconsider its crypto stance, especially amid the growing popularity of stablecoins.
Despite efforts to ban and restrict cryptocurrency usage, many countries still maintain their positions. This indicates the relevance and need for an adequate approach to regulation and exploration of cryptocurrencies instead of outright bans.
