Hungary will decriminalize crypto trading in a sharp reversal of policies introduced under former Prime Minister Viktor Orban, according to Bloomberg.
What changed under Orban
Legislation enacted in 2025 imposed criminal liability for providing crypto services without special permission, requiring approved validation for both crypto-to-fiat and crypto-to-crypto transactions.
Violations carried potential jail terms, pushing major platforms like Revolut out of the Hungarian market and burdening local companies with steep compliance costs.
New government’s plans
Hungary’s new Minister of Science and Technology, Zoltan Tanach, described the previous government’s crypto policy as an obstacle to economic growth.
The new leadership plans to abolish criminal prosecution for market participants, revise cybersecurity rules for businesses, and align national law with the pan-European MiCA regulation.
The authorities have chosen Estonia’s regulatory model as a template for developing the country’s digital environment.
According to Tanach, the changes should help bring international platforms back to Hungary and simplify operations for local firms.
Broader regulatory shifts
The rule review will also affect implementation of the NIS2 cybersecurity directive, which impacts around 4,000 Hungarian companies that need to meet regulatory requirements by June 30.
Hungary’s move follows a broader global trend of countries reconsidering restrictive crypto policies.
In April, Pakistan’s central bank lifted an eight-year ban on cryptocurrency operations, signaling a wider shift toward regulatory openness across emerging markets.
