Hungary's new innovation minister signals rollback of crypto market restrictions

Hungary's newly appointed Minister of Technology, Zoltán Tanács, said the government plans to remove what he called unreasonable restrictions on the cryptocurrency market, according to ME News on June 8 (UTC+8). Tanács criticized rules introduced on July 1, 2025, which added criminal penalties for providing unauthorized crypto services. The measures led platforms including Revolut to suspend crypto offerings in Hungary and drove up compliance costs for domestic firms. He said the framework was politically motivated rather than a form of prudent regulation. Tanács also suggested the government may revisit rules affecting cybersecurity audit providers under the EU's NIS2 Directive as roughly 4,000 Hungarian companies face a June 30 compliance deadline. Tanács joined the new government formed after the April elections and took office as Minister of Technology in May 2026. (Source: Foresight News)