Hungary Axes Crypto Conversion Rules in Regulatory U-Turn

Hungary is reversing its restrictive cryptoasset conversion rules, announced by Minister of Innovation and Technology Zoltán Tanács on June 6. The new government aims to realign Hungary's regulatory framework with standard EU practices, particularly MiCA's provisions on market integrity.

The previous administration imposed restrictions on July 1, 2025, requiring all crypto exchanges to obtain a compliance certificate from licensed validators before processing transactions. Any transaction lacking that certificate faced legal invalidation and potential criminal liabilities.

Major platforms, including Revolut, suspended their crypto services in Hungary rather than navigate the compliance gauntlet. Hungarian users were effectively cut off from mainstream crypto trading access for nearly a year.