Hungary’s newly installed government, led by the TISZA party after its April 2026 landslide victory, has moved quickly to dismantle strict cryptocurrency regulations that drove major platforms out of the country. On June 6, Minister of Science and Technology Zoltán Tanács announced the repeal of criminal penalties for unauthorized crypto services, introduced on July 1, 2025, which had prompted companies like Revolut to scale back operations and imposed heavy compliance costs on local firms.
The previous framework, enacted by the former Fidesz government, classified unlicensed crypto service provision as a criminal offense and saddled businesses with onerous auditing and reporting requirements. In response, several international exchanges reduced their Hungarian offerings, while domestic players struggled to compete with counterparts in more welcoming European jurisdictions. Trading activity migrated to neighboring states, eroding Hungary’s crypto tax base and innovation ecosystem.
Tanács emphasized that the new policy will harmonize national rules with the EU’s Markets in Crypto-Assets (MiCA) regulation, which came into full effect in December 2024. The government also looks to emulate Estonia’s e-governance model as part of a broader digital economy overhaul. Additionally, authorities are reviewing cybersecurity obligations under the NIS2 directive to ease auditor-related burdens affecting nearly 4,000 companies facing compliance deadlines this month.
Market watchers now await formal legislative steps to codify the repeal. The return of platforms like Revolut would signal restored confidence, while the shift toward MiCA alignment could make Hungary a more attractive hub for fintech investment within the bloc. “We are removing unjustified restrictions that only hampered innovation,” Tanács said, pledging a predictable, business-friendly regulatory climate.
