Hungary's new innovation minister pledges rollback of "unreasonable" crypto curbs

Hungary's new Minister of Technology, Zoltán Tanács, said on June 6 that the government will remove what it calls unreasonable restrictions on the crypto-asset market, marking a shift from the prior administration's approach that included criminal penalties for providing unauthorized crypto services. Regulations set to take effect in July 2025 have already pushed some platforms, including Revolut, to exit Hungary and have raised compliance costs for domestic firms. Tanács, who took office after a new government was formed in May 2026, said the earlier rules were driven by political considerations. The government also plans to revisit cybersecurity audit requirements tied to the EU's NIS2 Directive. About 4,000 Hungarian companies face a June 30 deadline to comply. Officials have signaled an ambition to follow Estonia's digital governance model and to position Hungary as supportive of the EU's MiCA framework, according to Cryptopolitan as cited by Huoxing Finance.