Hungary's Incoming Innovation Minister Pledges to Roll Back "Unreasonable" Crypto Curbs

Hungary's new Minister of Technology, Zoltán Tanács, said on June 6 the government will scrap what it calls unreasonable restrictions on the crypto-asset market, signaling a reversal of the prior administration's tougher approach that included criminal penalties for providing unauthorized crypto services. Regulations slated to take effect in July 2025 had already pushed platforms such as Revolut to withdraw from Hungary and raised compliance costs for domestic firms. Tanács took office after a new government was formed in May 2026, arguing the earlier rules were driven by political motives. The administration also plans to revisit cybersecurity audit requirements linked to the EU's NIS2 Directive, with roughly 4,000 Hungarian companies facing a June 30 compliance deadline. Hungary aims to follow Estonia's digital governance playbook while positioning itself as supportive of the EU's MiCA framework.