[Hungary Abolishes Crypto Asset Conversion Verification Requirements, Removes Maximum 8-Year Prison Sentence to Align with EU MiCA] Odaily Planet Daily News: The Hungarian Parliament has passed the '2026 Act No. XXXVIII,' abolishing legal provisions related to crypto asset conversion services, including the verification requirements that European exchanges had to comply with before legally operating in Hungary. The act was voted on July 31 and implemented on August 7. This abolition simultaneously removes two crypto asset-related offenses: unauthorized trading of high-value crypto assets, which previously carried a maximum sentence of 5 years in prison, and providing crypto asset exchange services in violation of verification obligations, which carried a maximum sentence of 8 years in prison. The relevant provisions were deemed redundant with the EU MiCA framework. (Bitcoin.com News)