Hungarian Parliament Scraps Crypto Verifier Rule: What Does it Mean?

Hungary’s parliament passed Bill T/305 on July 28, 2026, with a vote of 143-46 and one abstention, scrapping the requirement for government-approved verifiers for cryptocurrency transactions. The rule, introduced in 2025 under Prime Minister Viktor Orbán’s government, had made it illegal to trade crypto without clearance from licensed validators who checked asset sources, wallet ownership, and client information.

Under the previous ‘Crypto Asset Abuse’ laws, transactions between 5 and 15 million forints (roughly $15,000–$150,000) were punishable by up to two years in prison, with higher amounts carrying up to five years. Hungarian Finance Minister András Kármán stated that these rules disrupted the market, causing providers such as Revolut, eToro, and CoinCash to halt or limit their operations. The European Commission opened infringement proceedings against the laws in early 2026, arguing they conflicted with the EU’s Markets in Crypto-Assets (MiCA) regulations.

The new bill removes the verifier requirement but does not affect existing MiCA compliance guidelines, meaning crypto oversight remains in place. Opponents argue that repealing the regulations creates opportunities for money laundering and terrorist financing, while supporters note that anti-money laundering (AML) and know-your-customer (KYC) obligations are still covered by MiCA.

According to PwC, 74% of active Hungarian crypto users traded through Revolut, which ceased local operations due to the rules. The number of citizens trading crypto fell by 80,000, a 38% drop. The lifting of restrictions is expected to encourage crypto operators to re-enter Hungary, signaling a crypto-friendly environment that remains compliant with EU laws.

Source: https://cryptopotato.com/hungarian-parliament-scraps-crypto-verifier-rule-what-does-it-mean/