Hungary is planning to scrap the restrictive cryptoasset conversion rules that drove major platforms out of the country less than a year ago. The announcement marks one of the most significant crypto policy reversals in the European Union this year.
Zoltán Tanács, Hungary’s new Minister of Innovation and Technology, announced on June 6 that the government intends to remove the restrictions on crypto-to-fiat and crypto-to-crypto conversions that were imposed by the previous administration. He characterized the former regulations as “unreasonable” and politically motivated.
Those restrictions, which took effect on July 1, 2025, required all crypto exchanges to obtain a compliance certificate from licensed validators before processing transactions. Any transaction lacking that certificate faced legal invalidation. Non-compliance carried potential criminal liabilities.
Platforms, including Revolut, suspended their crypto services in Hungary entirely rather than navigate the compliance gauntlet. Hungarian users were effectively cut off from mainstream crypto trading access.
A new government, a new direction
