Hungary's Crypto Crackdown: Prison Time For Digital Trading

[SilverClouds]

Hungary's Crypto Crackdown: Prison Time For Digital Trading

Hungary criminalizes cryptocurrency trading with prison sentences up to 8 years, forcing Revolut to suspend services and threatening 500K citizens.

www.forbes.com

 

[polecat]

It Seems a bad policy and the Hungarian prime minister does not make much sense to me

 

[Zwielicht]

“What’re you in for?”
“I bought Bitcoin”

Facing up to 2 years in prison for “basic” crypto transactions is ridiculous. It’s like over here in the California, there was a point where they were putting people in prison for having a bit of weed. I’m not a fan of marijuana for myself, but putting stoners in the same place as murderers always seemed like a stretch.

 

[Rem]

only real gangsters do hard time for btc trading

 

[Zwielicht]

only real gangsters do hard time for btc trading

 

[MisterF]

individuals using unauthorized cryptocurrency exchange services face up to two years in prison for basic transactions, extending to three years for "particularly high value" trades above 50 million Hungarian forints (approximately $140,000), and up to five years for transactions exceeding 500 million forints.