Hungary To Scrap Jail Penalties for Crypto Trading Following EU Scrutiny

Hungary is preparing to remove criminal penalties linked to crypto trading, signaling a shift away from the stricter rules it previously imposed on digital asset transactions, according to government spokesperson Anita Köböl.

Under the earlier system introduced last year, crypto conversions required official approval, and violations could result in prison sentences. These restrictions are now set to be withdrawn as authorities move toward a more relaxed regulatory approach.

Köböl said the rules had slowed market activity and prompted several platforms, including Revolut, to suspend crypto services in the country. She added that the policy also attracted scrutiny from the European Union over its compatibility with broader EU regulations.

Source: Anita Köböl