Crypto Asset Service Provider License in Hungary

• Custody and administration of crypto‑assets

• Operation of a trading platform

• Exchange of crypto‑assets for funds (fiat) and for other crypto‑assets

• Execution of orders; placing of crypto‑assets

• Reception and transmission of orders; investment advice

• Portfolio management of crypto‑assets

• Transfer services for crypto‑assets

• EU legal entity with head office and effective management in Hungary/EU

• Own funds per MiCA: EUR 50k / 125k / 150k, or fixed‑overheads requirement if higher

• Fit & proper management; independent compliance & risk; internal audit (proportionality)

• Client‑asset segregation; safeguarding & disclosures; complaints handling

• AML/CFT program (incl. Travel Rule), sanctions screening, blockchain analytics

• ICT risk management & resilience (DORA); incident reporting; BCP/DR

• Outsourcing controls; recordkeeping; transparency & market integrity rules

Core in‑country/EU team (indicative):

• CEO/Executive Management (EU‑based)

• Head of Compliance & MLRO

• Risk Manager / Internal Controls

• Head of Markets/Operations; Custody Lead (if applicable)

• IT/Security (CISO); DevOps/Infrastructure

• Finance/Accounting; external auditor

• Independent Internal Audit (proportionality applies)

• Exchange/OMS (if platform), brokerage modules; market‑data & surveillance

• Wallet & custody stack (HSM/MPC), key ceremonies, access controls

• KYC/AML suite (IDV, PEP/sanctions, monitoring, blockchain analytics)

• Travel Rule solution integrated with case management

• Core ledger & reconciliation; client asset segregation tooling

• API gateway, webhooks, SDKs; reporting to MNB/ESMA

• Incident & complaints registers; audit trails; retention & backups

EU/EEA passporting upon MiCA authorisation (notification to ESMA register).

• Corporate income tax (CIT): 9% (standard Hungary CIT).

• Local business tax (municipal): typically up to ~2%; innovation contribution ~0.3% (where applicable).

• VAT: 27% standard rate; many financial/exchange services VAT‑exempt per EU case law (fact‑specific).

• Operational account with EEA credit/payment institution.

• Client funds safeguarding (as applicable) with EEA credit institution.

• Crypto custody arrangements (own custody or qualified third‑party).