Hungary Drops Strict Crypto Verifier Laws to Ease Trading

The Hungarian Parliament voted to repeal a law that forced crypto traders to use government approved verifiers for their transactions. Passed on July 28, 2026, the bill marks a shift away from strict local oversight that previously required officials to certify asset sources and wallet ownership before any trade could occur.

Finance Minister András Kármán admitted that the previous rules caused major service providers like Revolut and eToro to pause or limit their local operations. The restrictive environment caused the number of active crypto traders in the country to drop by 38 percent. The European Commission also challenged these laws earlier this year, noting that they conflicted with broader European Union standards.

While the specific verifier rule is gone, crypto firms operating in Hungary must still follow the standard MiCA compliance guidelines. Supporters of the change believe this update will help attract global platforms back to the country. Critics worry about potential security risks, but regulators maintain that standard money laundering and identity checks remain in full effect under existing European laws.