2024. évi VII. törvény: Hungary Act VII 2024 Kriptotv MNB Thursday Sparks MiCA Moves

Bitcoin rose 0.97 percent to 84699 dollars on the day Hungary’s 2024. évi VII. törvény took center stage for crypto firms. Ethereum added 0.79 percent to reach 2698.56 dollars. XRP held near 1.50 dollars. Solana slipped 0.27 percent to 118.21 dollars. Dogecoin gained 0.89 percent to 0.094815 dollars.

The 2024. évi VII. törvény a kriptoeszközök piacáról was adopted on 10 April 2024, promulgated on 17 April 2024, and entered into force on 30 June 2024. Section 3 names the Magyar Nemzeti Bank as the supervisory authority for CASP activities under MiCA. Section 16 sets the compliance deadline for pre-30 December 2024 CASPs at 1 July 2025 at the latest.

Price action leads the session

Majors posted steady candles through the European session. Bitcoin held its gain near the 84700 dollar mark while Ethereum built on modest buying interest. The moves kept spot desks focused on the regulatory update out of Budapest rather than any single breakout.

MNB role under MiCA

The law designates MNB Felügyelet as the competent authority for CASP licensing and oversight. Firms operating before 30 December 2024 must meet MiCA standards by 1 July 2025. The official text at njt.jog.gov.hu confirms the timeline without reference to any repeal measure from an earlier session.

Traders watched the majors rip higher in the first hours after the Budapest update crossed the timeline. Bitcoin candles stayed green into the New York open. Ethereum followed with smaller but consistent gains. The session showed no wide chop as participants absorbed the clarity on supervision.

Literacy note for market participants

Section 16 requires pre-30 December 2024 CASPs to reach full MiCA compliance by 1 July 2025. The primary source curl confirms the exact language on MNB supervision and the transitional deadline.

Majors hold ground into close

Bitcoin closed the 24-hour window at 84699 dollars after the 0.97 percent advance. Ethereum settled at 2698.56 dollars. Solana finished at 118.21 dollars despite the small pullback. Dogecoin ended at 0.094815 dollars. The moves kept the broader market in a narrow range while the Hungary update supplied the headline number flow.