EU initiates infringement procedure against Hungary
The European Commission (EC) announced a tax decision as part of its September monthly infringement package. In this decision, a letter of formal notice will be sent to Hungary to initiate an infringement procedure. This is due to Hungary’s incorrect transposition of EU Directive No. 2018/843 (AMLD V), which deals with anti-money laundering and counter-terrorist financing.
Hungary omitted registration and licensing requirements for providers offering exchange services between fiat and digital currencies. If Hungary does not provide a satisfactory response, the EC may proceed with the infringement procedure by sending a reasoned opinion.
Source: Europa.eu
