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Hungary

Hungary regulates crypto under MiCA through the Crypto Asset Market Act (Act VII of 2024), with the Magyar Nemzeti Bank (MNB) as competent authority; it took a 6-month transition that ended 1 July 2025, then layered a uniquely restrictive national validation and criminal-law regime that, following the April 2026 change of government, is being dismantled and replaced with a MiCA-aligned framework. Payments and e-money run under Hungarian law transposing PSD2 and EMD2, supervised by the MNB, with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption. Gambling is regulated by the SZTFH under Act XXXIV of 1991: online sports betting is open to EEA operators, online casino is tethered to a land-based concession, and Szerencsejáték Zrt. holds the lottery and retail-betting monopoly — and Hungary uses the forint, sits outside the euro area and banking union, and offers a 15% flat personal income tax on crypto and a 9% corporate rate.

Available licences

Crypto-Asset Service Provider authorisation (MNB under MiCAR and Act VII of 2024)

Custody, operation of a trading platform, exchange of crypto-assets for funds or other crypto-assets, execution, placing, reception and transmission of orders, advice, portfolio management and transfer services require MNB authorisation under Article 63 MiCAR; an authorisation passports across the EEA.

Asset-Referenced Token (ART) issuer authorisation (MNB)

Public offering or admission to trading of a token referencing a basket of values, rights or currencies requires authorisation as an ART issuer under Title III MiCAR, with reserve, custody and disclosure requirements.

E-Money Token (EMT) issuer (credit institution or EMI; MNB)

EMTs (including fiat-backed stablecoins) may be issued only by an authorised credit institution or e-money institution, with redemption at par, supervised by the MNB.

Article 60 MiCAR notification route (existing financial entities)

Credit institutions, investment firms, e-money and payment institutions and other authorised entities may provide specified crypto-asset services by notifying the MNB at least 40 working days before starting.

Crypto-asset conversion validation provider (SZTFH) — under revision

A national licence introduced in 2025 for entities validating crypto-asset conversions, authorised by the SZTFH. This regime, layered on top of MiCA and backed by criminal penalties, is being repealed and replaced following the 2026 change of government; confirm its current status before relying on it.

Payment Institution authorisation (MNB)

A licence to provide payment services under Hungarian law transposing PSD2, supervised by the MNB and passportable across the EEA.

E-Money Institution authorisation (MNB)

A licence to issue electronic money and provide related payment services, with EUR 350,000 minimum initial capital, supervised by the MNB.

Account Information and Payment Initiation Services (MNB)

Open-banking providers — account information and payment initiation service providers — are supervised by the MNB, with strong customer authentication under PSD2.

Banking authorisation (MNB)

Deposit-taking and lending require a banking licence from the MNB; Hungary is outside the banking union, so the MNB (not the ECB) is the sole banking supervisor.

Investment firm authorisation (MNB — MiFID II)

Investment services in financial instruments require authorisation under Hungarian law transposing MiFID II, supervised by the MNB.

Online sports betting licence (SZTFH)

A remote-gambling licence under the Gambling Act for online sports betting, open since 1 January 2023 to EEA operators meeting strict experience, capital and player-protection requirements (in practice, take-up by foreign operators has been limited).

Online casino (tethered to a land-based concession; SZTFH)

Online casino games may be offered only by a company holding a Hungarian land-based casino concession, so this segment remains effectively restricted; lotteries and retail betting are a Szerencsejáték Zrt. monopoly.

Detailed overview

Hungary at a glance

Hungary is a jurisdiction in transition. Crypto is supervised by the MNB under Act VII of 2024; the 6-month transition ended 1 July 2025, and a restrictive 2025 national overlay is now being repealed. Payments run under Hungarian PSD2/EMD2 legislation with the MNB as supervisor and the Instant Payments Regulation and DORA in force. Gambling runs under Act XXXIV of 1991, with the SZTFH licensing remote gambling and Szerencsejáték Zrt. holding the lottery and retail-betting monopoly. The forint is the currency, and Hungary sits outside the euro area and banking union, with the MNB as sole banking supervisor.

Crypto regime under MiCA — MNB-led, national overlay being unwound:

  • MiCA + national implementing law — Regulation (EU) 2023/1114 (MiCAR); the Crypto Asset Market Act (Act VII of 2024), under which full supervisory responsibility passed to the MNB on 1 January 2025
  • Competent authority — the MNB for CASP authorisation and ART/EMT supervision
  • Grandfathering — closed. Hungary adopted a 6-month transition: CASPs active before 30 December 2024 had to be MiCA-compliant and authorised by 1 July 2025; that window has expired
  • 2025 national overlay — from 1 July 2025 Hungary introduced a mandatory "validation" requirement (a compliance certificate from an SZTFH-authorised validator for crypto-asset conversions) and criminalised unauthorised crypto-asset exchange, with prison terms for providers and users; the full framework took effect at the end of December 2025 and prompted some platforms to suspend Hungarian services
  • 2026 reversal — following the April 2026 change of government, the criminal penalties and validation regime are being repealed and replaced with a MiCA-aligned framework, with new legislation in progress; the position is evolving and should be confirmed with the MNB
  • AML/CFT — AML Act LIII of 2017 applies, with FIU reporting; the EU AML package (Regulation (EU) 2024/1624 / AMLR, with AMLA in Frankfurt) applies from 10 July 2027
  • TFR / DORA — the Travel Rule (Regulation (EU) 2023/1113) applies from 30 December 2024 and DORA from 17 January 2025
  • Tax — individual crypto gains are taxed at the flat 15% personal income tax rate under a dedicated regime in the Personal Income Tax Act, with crypto income outside the scope of the separate social-contribution tax; corporate profits face Hungary's 9% corporate income tax, the lowest headline rate in the EU

Payments and e-money regime (MNB-led):

  • PSD2 — Directive (EU) 2015/2366; transposed in Hungarian law (including the rules on certain payment service providers), supervised by the MNB
  • Payment Institution licensing — initial capital EUR 20,000 (money remittance), EUR 50,000 (payment initiation) and EUR 125,000 (other payment services)
  • EMD2 / E-Money Institution — Directive 2009/110/EC; EUR 350,000 initial capital; stablecoin (EMT) issuers must be EMIs or credit institutions
  • Instant Payments Regulation (Regulation (EU) 2024/886) — applies to euro instant payments; Hungary operates its own domestic instant-payment system in forint, and euro obligations apply to euro accounts
  • DORA (Regulation (EU) 2022/2554) — applicable from 17 January 2025
  • PSD3 / PSR — Commission proposals of 28 June 2023; provisional political agreement reached 27 November 2025, with final compromise texts published 23 April 2026 and formal adoption expected during 2026; the package will repeal PSD2 and EMD2 and fold e-money institutions into payment institutions, with PSD3 transposed nationally and the PSR directly applicable after a phased timeline
  • Banking — the MNB is the sole banking supervisor; Hungary is outside the banking union, so there is no ECB/SSM role
  • Currency: forint (HUF), floating; no general exchange controls

Gambling regime — SZTFH-licensed, partly liberalised:

  • Act XXXIV of 1991 on Gambling Operations, as amended by Act XIX of 2022 — liberalised remote gambling from 1 January 2023, following the CJEU's Sporting Odds ruling (C-3/17)
  • Regulator — the SZTFH (Supervisory Authority of Regulated Activities), which also oversees the crypto-asset validation providers
  • Online sports betting — open since 1 January 2023 to EEA operators meeting strict criteria (around five years of EEA-licensed experience, around HUF 1 billion share capital, and licence/application fees); in practice, take-up by foreign operators has been limited, and the state-owned Szerencsejáték Zrt. is the main licensee
  • Online casino — may be offered only by holders of a Hungarian land-based casino concession, so the segment remains effectively restricted
  • Monopolies — Szerencsejáték Zrt. for lotteries and retail betting; land-based casinos run under a concession system
  • Tax — online sports betting and horse-race betting are taxed at 15% of gross gambling revenue, plus a supervision fee; gambling companies pay the 9% corporate income tax
  • Enforcement — the SZTFH uses ISP site-blocking, payment-flow blocking and criminal referral against unlicensed operators; strict advertising rules
  • Minimum age — 18; no EU passport (gambling is licensed nationally)

Last verified: July 2026. Reference rate: EUR 1 ≈ HUF 395; USD 1 ≈ HUF 345 (approximate; the forint floats).

Hungary is a jurisdiction in transition: MiCA applies with the MNB as supervisor, but the restrictive 2025 validation-and-criminal regime is being repealed; payments sit under MNB-supervised PSD2 rules; and gambling is a partly liberalised SZTFH market where online betting is open to EEA operators but online casino stays tied to a land-based concession.

Is there a crypto licence in Hungary?

Yes. Hungary applies MiCAR through Act VII of 2024, with the MNB authorising and supervising CASPs and ART/EMT issuers. The 6-month transition ended 1 July 2025, so operating now requires an MNB authorisation, a valid MiCA passport, or an Article 60 notification — and the restrictive 2025 national overlay is being unwound.

The legal foundation:

  • Regulation (EU) 2023/1114 (MiCAR) — the directly applicable EU framework for offerings, admission and crypto-asset services
  • Crypto Asset Market Act (Act VII of 2024) — implements MiCAR in Hungarian law and designates the MNB
  • AML Act LIII of 2017 — AML/CFT obligations and FIU reporting
  • Regulation (EU) 2023/1113 — Travel Rule for crypto-asset transfers

Structure:

  • A Hungarian entity with fit-and-proper management and qualifying shareholders
  • MiCAR own-funds floors by class — EUR 50,000 (Class 1), EUR 125,000 (Class 2), EUR 150,000 (Class 3) — with the higher of the floor or a fixed-overheads measure
  • AML systems, a white paper for in-scope offerings, custody and client-asset segregation, ICT and governance documentation, and a business plan — submitted to the MNB

Operational reality:

  • The MiCA baseline is clear (MNB as supervisor under Act VII of 2024), but the 2025 national overlay made Hungary one of the EU's most restrictive markets and is now being repealed; the practical position is evolving fast
  • The favourable tax regime (15% flat personal income tax on crypto, 9% corporate) is a notable draw once the regulatory picture settles
  • New activity should be structured through an MNB authorisation, a valid passport or an Article 60 notification, with the current status confirmed directly with the MNB

Official CASP roadmap: The MNB is the competent authority under Act VII of 2024 and publishes supervisory information on its site; because the 2025 validation-and-criminal overlay is being repealed and replaced with a MiCA-aligned framework, applicants should confirm the current authorisation procedure directly with the MNB.

Payments & E-money (MNB — PSD2 / EMD2)

Best for payment, remittance, acquiring, wallet and open-banking operators that want a foothold in Central Europe with a low corporate tax rate.

What it is: Authorisation as a payment institution or e-money institution under Hungarian law transposing PSD2 and EMD2, supervised by the MNB and passportable across the EEA.

Who it suits: Money-remittance and transfer providers, acquirers, card and wallet issuers, payment-initiation and account-information providers, and e-money issuers (including stablecoin issuers, who must be EMIs or credit institutions).

Covers: The payment services under Hungarian law — incoming and outgoing transactions, transfers, card and instrument-based payments, money remittance, payment initiation and account information — plus issuance of electronic money.

Operational requirement: A Hungarian entity; minimum initial capital by service type; ongoing own-funds and safeguarding of client funds; strong customer authentication; AML/CFT; DORA operational-resilience obligations; and fit-and-proper management.

Headline figures

  • Primary instruments: Hungarian PSD2 / EMD2 transposition; Instant Payments Regulation (EU) 2024/886; DORA (Regulation (EU) 2022/2554)
  • Regulator: MNB (authorisation and supervision; sole banking supervisor)
  • Entry capital: payment institutions EUR 20,000 / 50,000 / 125,000 by service type; e-money institutions EUR 350,000
  • Instant payments: Hungary runs a domestic forint instant-payment system; euro instant-payment obligations apply to euro accounts (receiving from 9 January 2025, sending from 9 October 2025)
  • Reform pipeline: PSD3 / PSR — political agreement November 2025, compromise texts April 2026, adoption expected during 2026; EMD2 to be repealed and EMIs folded into payment institutions
  • Currency: forint (HUF), floating; Hungary is outside the euro area and banking union

Is there a gambling licence in Hungary?

Partly. The SZTFH licenses online sports betting for EEA operators under the Gambling Act, but online casino is tied to a land-based casino concession, and lotteries and retail betting are a Szerencsejáték Zrt. monopoly.

The legal foundation:

  • Act XXXIV of 1991 on Gambling Operations, as amended by Act XIX of 2022 — the framework, which liberalised remote gambling from 1 January 2023
  • SZTFH implementing decrees — detailed authorisation, operation and monitoring rules
  • SZTFH — licensing and supervision of all gambling

Structure:

  • Online sports betting is open to EEA operators meeting strict experience, capital and player-protection criteria
  • Online casino is restricted to holders of a Hungarian land-based casino concession
  • Lotteries and retail betting remain a Szerencsejáték Zrt. monopoly; land-based casinos run under concessions

Gambling — Remote sports betting licence (SZTFH)

Best for established EEA betting operators able to meet Hungary's experience and capital thresholds; the market is open in principle but has attracted few foreign entrants.

What it is: An SZTFH remote-gambling licence for online sports betting.

Who it suits: EEA operators with a track record and the capital to meet Hungarian requirements.

Covers: Online sports betting; online casino requires a land-based casino concession.

Operational requirement: Hungarian presence and local representation, around HUF 1 billion share capital, around five years of EEA-licensed experience, player-protection and AML systems, and strict advertising compliance.

Headline figures

  • Primary instruments: Act XXXIV of 1991 as amended by Act XIX of 2022; SZTFH implementing decrees
  • Regulator: SZTFH (Supervisory Authority of Regulated Activities)
  • Tax: 15% of gross gambling revenue on online sports and horse-race betting, plus a supervision fee; 9% corporate income tax
  • Scope: online sports betting open to EEA operators; online casino tied to a land-based concession
  • Monopolies: Szerencsejáték Zrt. (lotteries and retail betting)
  • Player protection: minimum age 18; ISP and payment-flow blocking of unlicensed operators

Costs and timelines at a glance

  • Crypto: MiCAR via Act VII of 2024, MNB for CASPs/ARTs/EMTs; own-funds floors EUR 50,000 / 125,000 / 150,000 by class; 40-working-day decision after completeness; transition closed 1 July 2025; 2025 national overlay under repeal
  • Payments primary instruments: Hungarian PSD2 / EMD2 transposition; Instant Payments Regulation (EU) 2024/886; DORA
  • Payments regulator: MNB (sole banking supervisor; no ECB/SSM)
  • Reform pipeline: PSD3 / PSR — agreement November 2025, compromise texts April 2026, adoption expected during 2026
  • Gambling: SZTFH-licensed online sports betting (EEA operators); online casino tied to land-based concession; 15% GGR betting tax; Szerencsejáték monopoly on lotteries and retail betting
  • Tax: corporate income tax 9% (EU's lowest); individual crypto gains taxed at a flat 15%
  • Currency: forint (HUF), floating; outside the euro area and banking union
  • FX: EUR 1 ≈ HUF 395; USD 1 ≈ HUF 345 (approximate)

Who Hungary suits and who it does not

Suitable for

  • Crypto firms attracted by Hungary's low tax (15% flat personal income tax on crypto, 9% corporate) once the regulatory picture settles
  • CASPs and token issuers seeking MNB authorisation and EEA passporting under the MiCA baseline
  • Already-licensed banks, investment firms, payment and e-money institutions that can add crypto-asset services through the Article 60 notification route
  • Payment, remittance, acquiring, wallet and open-banking operators wanting a Central European base with a low corporate rate
  • Established EEA sports-betting operators able to meet the SZTFH's experience and capital thresholds

Not suitable for

  • Firms needing settled, predictable crypto rules today — the national regime is mid-transition after the 2026 change of government
  • Providers relying on a former VASP position — the transition closed on 1 July 2025
  • Operators seeking an open online-casino market — online casino is tied to a Hungarian land-based concession
  • Operators wanting to enter the lottery or retail-betting markets — these are a Szerencsejáték Zrt. monopoly
  • Payment or e-money firms expecting to avoid EU prudential, safeguarding, DORA or AML obligations

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