Hungarian Parliament Scraps Crypto Verifier Rule: What Does it Mean?

The nation abolished strict third-party verification requirements, clearing the pathway for the crypto industry to take hold. Bill T/305 passed parliamentary vote 143-46, with 1 abstention, on July 28, 2026. Prior to this vote, it was illegal to trade crypto in Hungary without clearance from government-approved verifiers. These validators were tasked with checking asset sources, wallet ownership, and client information before certifying any prospective crypto transactions as compliant. ‘Crypto Asset Abuse’ Laws Lifted Laws pertaining to the ‘abuse of crypto assets’ were introduced in 2025 under Prime Minister Viktor Orbán’s government. Transactions between 5 and 15 million forints (roughly $15,000 – $150,000) were reportedly punishable by a two-year prison sentence, with up to five years for higher amounts. Hungarian Finance Minister András Kármán states that the rules disrupted the market and caused providers such as Revolut, eToro, and CoinCash to halt or limit their operations. The EU Commission opened infringement proceedings against these laws in early 2026 on the basis that they conflicted with MiCA regulations. Crypto oversight is still in place, as the new bill does not rem...