Hungary Joins Crypto Crackdown Wave with Strict Licensing Rules

Hungary has joined the growing list of nations tightening crypto regulations, introducing strict licensing requirements and severe penalties for non-compliance.

Under the new law, individuals using unlicensed exchanges face prison time, while businesses risk eight-year sentences.

The Hungarian National Bank now oversees the sector, but the absence of clear licensing procedures has created confusion.

With Revolut and Bitstamp already halting services, the law could push more crypto activity underground or out of the country entirely.