What is crypto validation?
Act LXVII of 2025 introduced the concept of "crypto-asset exchange validation service." The law mandates validation requirements but does not define what validation actually means.
Globally unique
The concept of crypto validation exists only in Hungary. No other country has introduced similar requirements. The European Union's MiCA regulation does not include this type of validation obligation.
Criminal liability
Crypto-asset exchange without validation constitutes a criminal offense in Hungary. The regulation prescribes criminal liability rather than administrative sanctions – this is unprecedented in international comparison.
What the law requires
Crypto-asset service providers can only perform crypto-asset exchanges if validated by a validation service provider.
What is not defined
The law does not specify what validation means exactly, what processes it involves, or what criteria make a transaction considered validated.
What is a crypto validator?
A crypto validator (officially "crypto-asset exchange validation service provider") is an SZTFH-licensed company that validates crypto-asset exchange transactions according to the law.
Validator licensing
Validator service providers must have an SZTFH license. According to the SZTFH registry, as of May 10, 2026, two active validators are listed: Caduceus Zrt. and Mikroháló Kft.
The situation
The exact content of validation is not defined in the legislation. Some service providers choose to leave Hungary rather than attempt to comply with unclear requirements.
Sources
Read more about the regulation in these sources:
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