- Hungary repeals criminal penalties for unauthorised crypto services introduced in July 2025.
- The new government aligns with MiCA and Estonia e-governance model as digital strategy shift.
- Hungary’s crypto policy shift could pave the way for major platforms to return.
Hungary’s newly appointed Minister of Science and Technology, Zoltán Tanács, announced on June 6 that the government will lift what he described as unjustified restrictions on the cryptocurrency market, reversing a regulatory framework that had driven major platforms out of the country and burdened local firms with elevated compliance costs.
The announcement follows the landslide victory of the opposition TISZA party over the incumbent Fidesz government in April’s elections. Tanács was appointed in May 2026 and has wasted little time signalling a sharp change in direction.
What Is Being Removed
Rules introduced on July 1, 2025 created criminal penalties for unauthorised cryptocurrency services. The consequences were immediate:
- Platforms including Revolut pulled back from offering crypto services in Hungary
- Local firms faced compliance costs that competitors in friendlier jurisdictions did not
- Market activity shifted toward more permissive European neighbours
Tanács has framed the previous framework as politically motivated rather than sound regulation, describing it as an obstacle to Hungary’s competitiveness rather than a genuine consumer safeguard.
The New Direction
The TISZA-led government is positioning Hungary as a pro-EU digital economy with three clear pillars:
- MiCA alignment: Bringing Hungary’s framework in line with the EU’s crypto asset regulation fully applicable since December 2024
- Estonia model: Adopting a digital governance approach modelled on Estonia’s widely respected e-governance framework
- NIS2 modifications: Easing cybersecurity auditor regulations for approximately 4,000 Hungarian companies facing a June 30 compliance deadline
What It Means for Investors
Two developments will determine how quickly the market responds. The formal repeal of criminal penalties is the first concrete signal that the regulatory environment has genuinely changed. The return of major platforms like Revolut to the Hungarian market would be the more commercially significant confirmation.
For the broader region Hungary’s shift adds to a pattern of European governments recalibrating toward MiCA rather than maintaining fragmented national restrictions that push activity elsewhere.
Whether Hungary becomes a model for other nations navigating the balance between regulatory oversight and digital innovation depends on how quickly the new framework translates from announcement into law.
Related: IG Group Expands European Crypto Trading Through Bitpanda Partnership
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