MoonPay and Strike Exit Hungarian Crypto Market Amidst New Regulatory Framework

Crypto Firms Withdraw from Hungary

Leading cryptocurrency service providers MoonPay and Strike have announced their withdrawal from the Hungarian market, with services ceasing around January 8-9, 2026. Both companies cited significant legislative changes that took effect in 2026 as the primary reason for their departure. This development marks a further contraction of the cryptocurrency landscape in Hungary, following similar exits by other major players in late 2025.

New Regulatory Landscape Takes Effect

The withdrawals are a direct consequence of amendments made by Hungarian lawmakers to the rules governing cryptocurrency trading and asset handling, which were finalized at the end of 2025. A key component of these new regulations, effective from January 1, 2026, mandates that all crypto-related activities must involve a so-called 'validator'. Since December 27, 2025, crypto traders are required to conduct exchanges only with a compliance statement issued by a crypto-asset conversion validation service provider, with transactions lacking this statement becoming a criminal offense from January 1, 2026.

The Supervisory Authority for Regulatory Affairs (SZTFH) in Hungary has registered Caduceus Zrt. as its first crypto-asset conversion validation service provider. This new requirement adds an additional layer of regulatory burden, complementing existing MiCA licensing provisions. Furthermore, stringent penalties for using unlicensed crypto exchanges, including potential prison sentences for individuals and operators, were enacted as early as July 1, 2025. The legislation also incorporates DAC8 and DAC9 transposition, requiring crypto-asset service providers to submit annual information returns by March 31, starting from January 1, 2026, in alignment with the OECD Crypto-Asset Reporting Framework (CARF).

Impact on Users and Company Operations

For MoonPay users in Hungary, the withdrawal means limited functionality. While they can still transfer existing crypto assets to external wallets, the process for withdrawing fiat funds is no longer automated and requires direct contact with customer support. Hungary has now been added to MoonPay's list of unsupported countries, a list that includes nations such as Afghanistan, Cuba, Russia, China, and North Korea.

Strike users received notifications that trading services would cease on January 9, 2026. Following this, the 'Buy' and 'Sell' functionalities were disabled, transforming the application into a basic wallet primarily for withdrawals. Users are still able to withdraw their EUR and Bitcoin (BTC) assets.

Broader Market Implications

The exits of MoonPay and Strike are part of a larger trend. In December 2025, firms such as Revolut and CoinCash had already suspended their crypto services in Hungary due to the evolving regulatory environment. Other providers like eToro and Kriptomat also ceased operations. Industry analysts have noted that Hungary's new regulations are particularly strict, in some cases exceeding the requirements of the European Union's Markets in Crypto-Assets (MiCA) regulation, leading to a challenging operational environment for crypto service providers.