As a result of recent changes in Hungarian regulations for crypto-asset service providers, Swapin will be forced to discontinue all services for customers residing or registered in Hungary.
This applies to both private and business accounts.
What has changed?
Hungary has introduced additional national requirements for crypto-asset exchange activity. These rules apply to crypto-to-fiat and crypto-to-crypto transactions and introduce a validation framework that goes beyond standard EU requirements under the Markets in Crypto-Assets (MiCA) regulation.
Under the updated Hungarian framework:
Certain crypto exchange activities require validation under national rules.
Providing exchange services without meeting these requirements may be considered non-compliant.
Service providers must assess whether they can legally continue offering crypto functionality to Hungarian residents.
How does this affect Swapin clients?
These obligations impose a set of legal and technical difficulties that make it impossible for Swapin to continue providing services in Hungary at this moment. This means that:
All private accounts registered in Hungary will be terminated.
All business accounts registered in Hungary will be terminated.
Customers from Hungary will not be allowed to register.
Services will not be available until regulatory conditions are met.
Can I continue using Swapin if I move outside Hungary?
Customers who have permanently moved outside Hungary can contact Support and provide valid proof of residence in another eligible country. Each request will be assessed individually in accordance with our compliance procedures.
Will services return in the future?
We continue to keep an eye on the developments in Hungary. If the legal environment changes in a manner that will enable us to operate fully in compliance, we may decide to resume our services. Any updates will be announced through our official channels.
Need assistance?
If you have any questions about your account closure or next steps, feel free to contact Swapin Support via the online chat.