Regulator: National Bank of Hungary, MNB (Magyar Nemzeti Bank)
Cryptocurrency, including stablecoins, is regulated under Hungary's adoption of the EU's MiCAR (effective since December 2024) via Act VII of 2024. The Central Bank of Hungary oversees licensing of crypto-asset service providers. In addition, Hungary has created a validation regime, only transactions with a compliance certificate from an authorized "Validator" are legally valid. Crypto activity via unlicensed platforms is criminalized starting 1 July 2025, with penalties ranging from 2 to 8 years depending on transaction value.
