Hungary Imposes Up To 8-Year Prison Terms For Unauthorized Crypto Trading
Hungary has enacted new laws that impose severe penalties on individuals and service providers involved in unauthorized cryptocurrency trading. Effective July 1, the updated Criminal Code stipulates that using an unauthorized crypto-asset exchange service can result in up to two years in prison. The severity of the punishment increases with the value of the transactions, with penalties rising to three years for trades between 50 million and 500 million forints, and up to five years for transactions exceeding 500 million forints.
The legislation also targets unauthorized crypto service providers, imposing penalties of up to three years in prison for activities involving up to 50 million forints. For larger operations, the penalties can…
