Hungary’s recently appointed Minister of Science and Technology, Zoltán Tanács, announced on June 6 that the country will lift what he described as unjustified restrictions on the crypto assets market. The move represents a sharp reversal from the previous government’s approach, which included criminal penalties for unauthorized crypto services.

The announcement also flagged potential changes to cybersecurity auditor regulations under the NIS2 directive, a shift that could affect roughly 4,000 Hungarian companies facing a June 30 compliance deadline.

What the previous government built, and what’s being torn down

Rules that took effect on July 1, 2025, introduced criminal penalties for providing unauthorized crypto services. Service suspensions hit the Hungarian market, with platforms like Revolut pulling back from offering crypto services in the country. Local firms found themselves shouldering elevated compliance costs that their competitors in friendlier jurisdictions simply didn’t face.

Tanács, who was appointed to his ministerial role in May 2026 following the new government’s formation after April elections, has framed these rules as politically motivated rather than prudent regulation. His position signals that the incoming TISZA-led government views the previous crypto framework as an obstacle to competitiveness rather than a safeguard.

A broader digital strategy shift

The new government has signaled a pro-EU digital strategy that contrasts sharply with the more restrictive national measures of its predecessor. The model they’re reportedly looking toward is Estonia’s e-governance framework, widely regarded as one of the most digitally progressive systems in Europe.

Tanács indicated that regulations governing cybersecurity auditors may be modified, particularly as they relate to the EU’s NIS2 directive. Around 4,000 Hungarian companies are currently navigating compliance requirements with a June 30 deadline looming.

What this means for investors and the regional market

Removing criminal penalties for unauthorized crypto services and rolling back restrictions that drove major platforms away creates the basic conditions for a functioning market. The EU has been building its own crypto framework through MiCA (Markets in Crypto-Assets regulation), which aims to create harmonized rules across member states. Hungary positioning itself as pro-EU on digital assets means local firms could benefit from regulatory coherence rather than navigating a patchwork of national rules stacked on top of EU requirements.

Investors watching the Hungarian market should track two things closely: whether the criminal penalty provisions from the July 2025 rules are formally repealed, and whether major platforms like Revolut restore their crypto offerings in the country.