Magyarország visszalép a Bitcoin és a kriptovaluta kriminalizálásától a szabályozási fordulattal

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Hungary is dismantling the restrictive digital asset framework established under former Prime Minister Viktor Orbán, a policy revision that will decriminalize crypto trading and remove the prison sentences that had caused major platforms to exit the country, according to government spokesperson Anita Kobol on Thursday, as reported by Bloomberg. 

This rollback represents a complete reversal of legislation that became effective on July 1, 2025, following parliament’s approval of rules that criminalized the use of unregulated exchanges and certain unauthorized high-value crypto transactions. 

These transactions, ranging from 50 million Hungarian forints (approximately $162,000) to 500 million forints (approximately $1.62 million), could result in prison terms of up to two or five years for individuals, depending on the transaction’s value. Service providers operating without a central bank authorization faced potential sentences of up to eight years.

The regulations mandated approved validation for both crypto-to-fiat and crypto-to-crypto conversions, a requirement that led platforms such as Revolut to suspend their crypto services in Hungary and prompted an EU inquiry into whether the restrictions adhered to bloc-wide regulations. 

Domestic trading volumes saw a decline as local companies incurred significant compliance expenses.

Hungary’s Politically Motivated Safeguards Against Bitcoin

Zoltán Tanács, Hungary’s Minister of Science and Technology, described the former rules as “politically motivated” rather than genuine market protections and declared the government’s intention to abandon the penalties. 

The new administration intends to cease criminal prosecution for market participants, amend cybersecurity regulations affecting around 4,000 Hungarian businesses under the NIS2 directive, and harmonize national legislation with the EU’s Markets in Crypto-Assets regulation.

Officials have identified Estonia as a model for reconstructing Hungary’s digital regulatory landscape. Tanács stated that the reforms are expected to attract international platforms back to Hungary and reduce obstacles for domestic operators, according to Bloomberg.

This shift holds importance beyond Hungary’s borders. The framework from the Orbán era was among the most restrictive within the European Union, and the EU’s investigation had placed Hungary at odds with the broader MiCA framework, which governs crypto activities across the bloc. 

Conforming with MiCA would bring Hungary into alignment with the regulatory standard now applicable to all 27 member states.

Hungary’s change in direction follows a broader trend of governments reassessing punitive crypto policies. In April, Pakistan’s central bank lifted an eight-year prohibition on cryptocurrency operations, as part of a wider movement towards regulatory openness in emerging markets. 

The convergence of these developments suggests that stringent unilateral frameworks are facing increasing pressure as institutional adoption of digital assets accelerates globally and cross-border regulatory coordination strengthens under frameworks like MiCA.

The Hungarian government has not yet established a specific timeframe for when the legislative alterations will come into effect.

Details can be found on the website : bitcoinmagazine.com