Overview
- The new Tisza Party government announced on Thursday that it intends to remove the 2025 requirement for SARA-issued validation certificates and to decriminalize routine crypto trading.
- Hungary’s 2025 rules had required a government-approved compliance certificate for every crypto-to-fiat and crypto-to-crypto transaction and attached prison terms for non-compliance.
- Because the Supervisory Authority for Regulated Activities had not registered validators when the law took effect, major platforms such as Revolut suspended or exited services and trading volumes fell sharply.
- Officials say the European Commission opened infringement proceedings under the EU’s Markets in Crypto-Assets rules and that that legal pressure helped trigger the policy U-turn.
- The government plans to realign Hungary with MiCA and to model licensing on lower-friction systems like Estonia’s FIU approach, but concrete legislation, timelines, and details on how platforms will return remain unspecified.