Hungary has taken a hard line on crypto trading. On 1 July 2025, the country’s updated criminal code kicked in. Anyone caught trading on an unlicensed crypto‑asset exchange could face jail time.
Anybody whose trading volume falls between HUF 50 million and HUF 500 million (about $145,950–$1.46 million), could serve up to three years behind bars.
And those moving more than HUF 500 million face a term of up to five years. Each tier scales the penalty based solely on how much money changes hands.
If they process between HUF 50 million and HUF 500 million, they might spend as long as five years in jail. And any firm that handles more than that amount can be penalized with up to eight years in prison.
Users now can’t deposit or cash out their digital tokens until Revolut sorts out its legal position. For some, that means weeks or even months of waiting.
Other parts of the world have criminalized unlicensed crypto services. The US, the UK, Hong Kong, and South Korea all fine or jail unlicensed operators, but they rarely go after everyday traders.
Singapore recently warned its local firms to quit serving overseas clients without a license, under threat of up to three years in prison or a fine of SG$250,000. Yet Hungary stands out for targeting private users based on their transaction amounts.
Hungary’s Supervisory Authority for Regulatory Affairs has 60 days from 1 July to set clear rules. Until then, nobody knows how to get the mandatory “validation certificate” that every authorized exchange must hold.
Featured image from Goway, chart from TradingView
