Canada    FinTech Guide    Chapter 11    Hungary


11. Identification
Hungary  Hungary

The social and political climate towards identification services is neutral. We are not aware of reservations.



Legal Affairs


eIDAS applies directly in Hungary. According to eIDAS, authentication may be provided by Qualified Trust Service Providers (“QTSP”) (as defined under eIDAS). The rules of Outsourcing may further apply.



Economic Conditions


There are currently three QTSPs in Hungary: Microsec, Netlock and the National Infocommunications Services Company Ltd. The first two are private companies and the third is a governmental company.



Contributing Authors

Lakatos, Köves & Partners

Richard Lock
Budapest, Hungary

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Chapter Index:


1. Payment Services / Mobile Payment

2. Asset and Portfolio Management

3. Consulting and Broking Services / Robo-advisory / Auto-trading

4. Trading Platforms / Social Trading Platforms / Signal Following

5. Crowdfunding / Crowdinvesting / Crowdlending

6. Virtual Currency - Bitcoin

7. Loan Services / Factoring / Loan Broking / Finetrading

8. Online Banking Services

9. Analytics and Research / Data Management / Risk Management

10. Accounting

11. Identification

12. Online-pawning

13. InsurTech

14. RegTech

15. Initial Coin Offerings (ICOs)

Disclaimer:
The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.

Publication Date: 1 May 2018