Hungary Tightens Laws For ‘unauthorized’ Crypto Trading

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Hungary has passed laws that could slap individuals trading crypto using an unauthorized crypto exchange with prison.

Those who use a so-called “unauthorized crypto-asset exchange service” could face up to two years in prison with penalties increasing based on the value traded, according to an update to the country’s Criminal Code that came into force on July 1.

The updated laws also target unauthorized crypto service providers with up to three years in prison, which could increase depending on the value of illicit trades.

Local news outlet Telex…



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Hungary Tightens Laws For ‘unauthorized’ Crypto Trading


Hungary has passed laws that could slap individuals trading crypto using an unauthorized crypto exchange with prison.

Those who use a so-called “unauthorized crypto-asset exchange service” could face up to two years in prison with penalties increasing based on the value traded, according to an update to the country’s Criminal Code that came into force on July 1.

The updated laws also target unauthorized crypto service providers with up to three years in prison, which could increase depending on the value of illicit trades.

Local news outlet Telex…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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