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ARTICLE · 23 APRIL 2024

Hungary Aligns Crypto-Asset Regulation With EU Rules And Enhances Consumer Protection

Schoenherr (Schönherr Rechtsanwälte)
Schoenherr (Schönherr Rechtsanwälte)
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Good news for cryptocurrency investors: Hungary has adopted a new law on the market for crypto-assets.

European UnionTechnology

Good news for cryptocurrency investors: Hungary has adopted a new law on the market for crypto-assets. The new law aligns the national legal framework with the European Union's regulations and ensures consumer protection, financial stability and innovation in this emerging sector. The new law, which was adopted by the parliament on 10 April 2024, covers the issuance, offering and trading of crypto-assets, as well as the supervision and sanctions of crypto-asset service providers.

According to the new law, which is in line with EU Regulation 2023/1114 on markets in crypto-assets (MiCA), crypto-assets are divided into three categories: electronic money tokens, asset-referenced tokens and other crypto-assets. Electronic money tokens are crypto-assets that maintain a stable value by referring to a legal currency. Asset-referenced tokens are crypto-assets that maintain a stable value by referring to any other value or right, or a combination thereof, including one or

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