Crypto Crackdown: Hungarians Face 5-Year Jail For Unauthorized Digital Asset Trading

Hungary has implemented strict new laws regarding cryptocurrency trading, effective July 1, 2025. Individuals trading on unlicensed crypto exchanges now face potential jail time based on the amount traded. Trading between approximately $14,600 and $145,950 can result in up to two years in prison, while amounts between $145,950 and $1.46 million could lead to a three-year sentence. Trading over $1.46 million carries a potential five-year prison term. Service providers operating unlicensed exchanges face even harsher penalties, with potential sentences ranging from three to eight years depending on the amount handled. As a result, Revolut, a popular fintech app, has suspended crypto services for Hungarian users due to the new regulations, preventing them from buying, selling, depositing, or withdrawing crypto assets. The Hungarian Supervisory Authority for Regulatory Affairs has 60 days to establish clear rules for obtaining the necessary validation certificates for authorized exchanges.