Hungary has implemented strict cryptocurrency regulations, leading to the suspension of services by fintech company Revolut and affecting many users.
Hungary's New Laws and Their Impact on the Fintech Market
As of July 1, 2025, Hungary's new rules covering cryptocurrency fintech services, like those of Revolut, have taken effect. These measures impact new purchases, staking, and top-ups, while users can still sell holdings and transfer certain tokens.
Licensing Requirements and Criminal Penalties
Under the new rules, all crypto-asset service providers must now obtain a license from the Hungarian National Bank. Violations may result in criminal penalties, including imprisonment for up to five years, depending on transaction size. Revolut has stated its efforts to restore services, yet a specific timeline has not been provided.
Market Analysis and Alternative Trading Methods
Analysts suggest that the new regulations might lead to increased interest in decentralized exchanges and peer-to-peer trading, although the lack of licensed operations poses financial and regulatory challenges for users. The regulatory environment may also push users toward alternative trading methods.
Hungary’s stringent regulations have significantly reshaped the cryptocurrency market in the country, causing concern and uncertainty among users and fintech companies.
