US EditionBrussels launches legal action against Hungary over crypto law as Revolut and others shut down
6 Articles
6 Articles
Brussels launches legal action against Hungary over crypto law as Revolut and others shut down
The European Commission has initiated two new infringement procedures against Hungary. One concerns recent amendments to the country’s cryptocurrency legislation, while the other relates to Hungary’s failure to withdraw from the Energy Charter Treaty. In both cases, the government has received formal letters of notice and has two months to respond. Crypto regulation prompts market exits According to the Commission, the Hungarian Parliament amend…
According to the European Commission, the licensing system introduced in Hungary for services that authenticate the conversion of crypto assets violates EU regulations.
The European Commission has launched infringement proceedings against Hungary over last year's amendment to the crypto law, which the commission said harmed customers and created legal uncertainty, the European organization announced.
Infringement proceedings have been launched against Hungary over last autumn's amendment to crypto regulations, which seriously undermined von der Leyen's confidence. The government was given two months to come up with a solid explanation.
The European Commission has initiated proceedings against Hungary over the crypto law - A formal notice was sent, with a two-month deadline for a response.
The European Commission said last fall’s amendment to Hungary’s crypto law harmed customers and created legal uncertainty. The move prompted all crypto service providers to suspend their domestic operations. The commission gave the government two months to explain what the purpose of the move was.
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