Hungary Scraps 8-Year Prison Terms for Crypto After April Election, Resolves EU Conflict

According to Bloomberg, Hungary's new Tisza government abolished criminal penalties for crypto trading on June 11, reversing an 8-year prison regime introduced under former Prime Minister Viktor Orban. The reversal follows Péter Magyar's party securing a supermajority in April 12 parliamentary elections. The government scrapped the mandatory validation certificate requirement and decriminalized all crypto services, removing criminal liability for both users and service providers. Revolut, which suspended operations in Hungary due to the prior rules, now has a path to restore crypto services. A new regulatory framework aligned with EU MiCA standards is expected in the coming weeks.
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