Hungary will lift unjustified restrictions on the digital asset market, announced the new Minister of Science and Technology, Zoltan Tanac, as reported by Bloomberg.
The legislation in effect since 2025 imposed criminal liability for providing crypto services without a special permit. This led to the exit of major players from the local market, including the fintech platform Revolut, while local companies faced high compliance costs.
Tanac described the previous government's policy as a hindrance to the economy. The new leadership plans to:
- decriminalize market participants;
- revise cybersecurity regulations for businesses;
- align national law with the European MiCA regulation.
As a model for developing the digital environment, the authorities cited Estonia's experience. According to the minister, these changes will help attract international platforms back to the country and simplify operations for local firms.
The review of regulations will also affect the NIS2 directive, impacting around 4,000 Hungarian companies that must meet regulatory requirements by June 30.
It is worth noting that in April, the Central Bank of Pakistan lifted an eight-year ban on cryptocurrency transactions.