What is Hungary's FATF status?

Hungary is classified by FATF as: fsrb_only.

Are VASPs licensed in Hungary?

Yes — licensing is required for VASPs.

What is the AML/KYC regime in Hungary?

KYC is mandatory for crypto businesses.

🇭🇺 Hungary

Hungary has a clear regulatory framework for cryptocurrencies, aligned with the EU's Markets in Crypto-Assets Regulation (MiCA). The Hungarian National Bank oversees crypto activities with established consumer protection and financial stability measures.

Overview

Status	Legal
Risk Score	33/100 (Moderate Risk)
Region	europe
Currency	HUF
Adoption Rank	#36

Tax Information

VAT on Crypto

The regulator page does not specify detailed crypto tax rates or rules; VAT does not apply to crypto transactions.

Licensing & Registration

Required	Yes
Regulator	MNB
Framework	Markets in Crypto-Assets Regulation (MiCA)
Ease	medium
Cost (USD)	$15,000 - $100,000

Licensing follows EU MiCA standards, requiring authorization for crypto service providers.

Enforcement Activity

Level: Low

MNB has issued warnings about unregistered crypto service providers. Enforcement capacity is developing.

AML / KYC

KYC Required	Yes
Travel Rule	Yes
FATF Member	No
FATF Status	fsrb_only
FATF Body	MONEYVAL
Suspicious-Activity Reporting	Yes

DeFi, Stablecoins & NFTs

Status: regulated

DeFi activities are regulated under the broader EU MiCA framework and Hungarian financial regulations.

Stablecoins

Status: regulated

Stablecoins are regulated under the EU MiCA framework applicable in Hungary.

NFTs

Status: no_rules

No specific NFT regulation

Mining

Legal	Yes
Electricity Cost	$0.11/kWh
Renewable Energy	30%
Infrastructure	good

Mining is legal with moderate electricity costs and a significant share of renewable energy. Infrastructure supports mining activities.

Geopolitical Risk

Stability	stable
Sanctions	No
Corruption Index	43/100
Banking Access	moderate

Risk Factors

regional geopolitical tensions
regulatory changes in EU

Hungary is politically stable with moderate corruption and reasonable ease of doing business. It is not under international sanctions and has free internet access. Banking access for crypto companies is moderate due to EU regulations.