MoonPay has officially ceased its operations in Hungary, marking a significant retreat from the country’s cryptocurrency landscape. This decision follows a series of regulatory shifts that are set to take effect in 2026, as reported by revb.hu.
The company has indicated that while users still have the ability to transfer their existing cryptocurrency assets to external wallets, the withdrawal of fiat currency has transformed into a more complicated process. Customers are no longer able to execute automated withdrawals; instead, they must reach out to customer service for assistance, adding layers of difficulty to an already complex environment.
In addition to MoonPay’s exit, Strike also announced its immediate departure from the Hungarian market in a communication sent to users early yesterday morning. Similar to MoonPay, Strike pointed to the changing regulatory framework as the catalyst for its withdrawal. The new regulations, which are slated to be implemented by the end of 2025, necessitate that all crypto-related activities be carried out through designated “validators.” However, the specific roles and identities of these validators remain ambiguous, further complicating the market’s operational landscape.
This trend of exits doesn’t stop with these two companies; Revolut and CashCoin halted their cryptocurrency services in Hungary back in December, reflecting a broader withdrawal of international players from a market increasingly characterized by legislative uncertainty.
Strike, well-known for its fast Bitcoin transactions and user-friendly interface, informed its users that they can continue to manage their portfolios until midnight. Following this cutoff, the functionality to buy and sell cryptocurrencies will be disabled, although users will still have the option to withdraw their assets after that point, according to the report.
This wave of departures highlights ongoing concerns about the regulatory climate for cryptocurrency businesses in Hungary, raising questions about the future of digital asset services in the region.
