Neukriminalisierung des Kryptowährungshandels im ungarischen Strafrecht

Absztrakt

As crypto-assets have become increasingly widespread, regulation of the financial markets relating to the use of cryptocurrencies – specifically designed to protect investors – has inevitably followed. This legislative need has become apparent at both EU and national level. The former need gave rise to the MiCA Regulation, which is directly applicable in all Member States, whilst the result of national legislation in this area is to be regarded as Act VII of 2024 on the Crypto-Asset Market (hereinafter: the Crypto Act), which enters into force on 30 June 2024. Although the primary objective of the aforementioned Act, as determined by the Hungarian legislature, is to transpose certain requirements of EU law into domestic law, it also provides for the introduction of a specific national validation requirement for transactions involving crypto-assets in Hungary. As a result of this provision, trading in crypto-assets in Hungary is lawful only if a complex system of conditions is met. A further consequence of the aforementioned legislation was that the Hungarian legislature made the certification of crypto-asset exchange activities carried out in breach of the obligations subject to criminal liability. The aim of this paper is to analyse the criminal law provisions applicable from 1 July 2025 in the light of the MiCA Regulation, the fundamental principles of EU law and the provisions of the Crypto Act, which sets out the framework regulations in concrete terms.