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\n\t\t\t\t\t\t\t\t\tThe previous measures included possible prison sentences for certain violations.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
It has been nearly two months since the pivotal elections in Hungary, in which Viktor Orban\u2019s 16-year tenure finally came to an end, as the country showed a clear shift toward the West.<\/p>\n
The new government has taken numerous steps to neutralize some of the controversial policies undertaken by the former administration, and the local cryptocurrency space could be among the beneficiaries.<\/p>\n
The rules against cryptocurrency trading were introduced by the Orban administration in 2025. They required approved validation for transactions converting digital assets to traditional currency and for crypto-to-crypto exchanges. Even more controversially, the rules included possible prison sentences in some extreme cases of violations.<\/p>\n
A Forbes report at the time claimed<\/a> that transactions for over $140,000 (50 million forints) carried a possible prison sentence of up to three years. Largest transactions for over $1.4 million (500 million forints) could lead to five years behind bars.<\/p>\n Numerous popular trading platforms were forced to leave the country or restrict their services for locals to a large extent. Although the European Union opened an investigation to determine whether these restrictions complied with its regulations, the local trading volumes plunged before the administration change earlier this year.<\/p>\n According to a new report from Bloomberg, the new government has decided<\/a> to lift the threat of jail time and criminal charges for using unauthorized exchanges or conducting non-compliant crypto-to-crypto and crypto-to-fiat transactions.<\/p>\n Government spokeswoman Anita Kobol said that Hungary will dismantle the transaction-level \u2018validation certificate\u2019 requirement and plans to align the local market with the EU\u2019s Markets in Crypto-Assets (MiCA) framework.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n
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