ME News reports that on June 8 (UTC+8), Hungary’s new Minister of Technology, Zoltán Tanács, stated that the government will eliminate previously imposed restrictions on the crypto market, which were deemed unreasonable. The regulations enacted by the government on July 1, 2025, introduced criminal penalties for unauthorized crypto services, prompting platforms like Revolut to cease offering crypto services in Hungary and significantly increasing compliance costs for local businesses. Tanács described these rules as politically motivated rather than prudent regulation. Additionally, Tanács indicated that regulations concerning cybersecurity audit providers under the EU’s NIS2 Directive may be revised, as approximately 4,000 Hungarian companies face a compliance deadline of June 30. Zoltán Tanács assumed the role of Minister of Technology in Hungary’s new government, formed following the April elections, in May 2026. (Source: Foresight News)
Hungary's New Minister of Innovation to Lift Crypto Market Restrictions
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Summary
On June 8, 2026, Hungary’s new Minister of Innovation and Technology, Zoltán Tanács, announced plans to lift crypto market restrictions imposed in July 2025. The rules, which linked CFT compliance to severe penalties, prompted platforms like Revolut to exit the market and increased costs for local firms. Tanács described the regulations as politically motivated rather than sound policy. He also indicated potential revisions to cybersecurity laws tied to the EU’s NIS2 directive. Approximately 4,000 Hungarian companies must comply by June 30. This shift could support risk-on assets as uncertainty diminishes.
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