MiCA CASP authorisation in Hungary (MNB)

Why teams look at Hungary

Hungary has an integrated regulator in the Magyar Nemzeti Bank (the National Bank of Hungary), which supervises the whole financial sector. Under MiCA’s crypto-asset service provider regime, applying from 30 December 2024, the MNB is the authorising authority. Hungary is not in the euro area, so capital thresholds set in euro are assessed against the forint equivalent. Hungarian crypto law has seen change recently, so confirming the current national framework with the MNB matters more here than in most member states.

This page is informational and does not replace legal, regulatory, or tax advice. Confirm current requirements, forms, fees, and timelines directly with the MNB before acting.

The authorisation route

A firm that is not already an EU-authorised financial entity applies to the MNB for authorisation as a CASP under Article 62. A firm already authorised under EU financial law can use the lighter Article 60 notification.

Under Article 63 the MNB has 25 working days to confirm completeness and then 40 working days to decide once the file is complete.

What the MNB expects

Local substance

A registered office in Hungary and management effectively based there under Article 59(2).

Governance and fit-and-proper

Collective crypto-asset competence and sufficient time under Article 68, with assessment of directors and qualifying shareholders.

Custody and client assets

Segregation, reconciliation, a custody policy, and strict liability for loss under Article 75 where you hold client crypto-assets or the means of access.

Prudential safeguards

Own funds, an insurance policy, a comparable guarantee, or a mix under Article 67, at the higher of the class minimum or one quarter of fixed overheads.

Capital and the Article 67 question

The minimum is 50,000 euro, 125,000 euro, or 150,000 euro depending on the services you are authorised for, or one quarter of the previous year’s fixed overheads if higher. If you are weighing insurance against capital, build the evidence first: see the CASP insurance evidence pack and own funds vs insurance.

Transitional path and national law

Firms operating under Hungary’s pre-MiCA regime transition onto MiCA through a process the MNB manages within a national transitional window. Because Hungarian crypto rules have changed recently, confirm both the transition steps and the current national legal position with the MNB before committing.

Transitional dates and national rules have moved here. Confirm against current MNB guidance before planning around them.

FAQ

Is a Hungary CASP licence valid across the EU?

Yes. A CASP authorisation passports to all 27 member states under Article 65. You authorise in Hungary and notify the host states before providing services there.

Has Hungary’s crypto law been stable?

Hungarian national crypto rules have changed recently. Confirm the current framework with the MNB rather than relying on older summaries.