Hungary plans to decriminalize crypto trading, according to reporting from Bloomberg and the state news agency MTI, marking a potential reversal of restrictions introduced under former Prime Minister Viktor Orban. The reported shift would ease rules that created criminal exposure around cryptoasset conversions.
Government spokeswoman Anita Kobol told reporters on Thursday that Hungary would loosen strict rules introduced last year for crypto trading activity. MTI also reported on June 11 that the government planned to ease the framework, making the policy direction clear even though final legal details remain unavailable.
Earlier Rules Hit Local Crypto Access
The previous regime required approved validation for both crypto-to-fiat and crypto-to-crypto transactions. Violations could carry potential jail terms, making ordinary crypto conversion activity a criminal-risk issue for users and platforms.
Those restrictions quickly affected the local market. Bloomberg reported that several digital-asset platforms, including Revolut, suspended crypto services in Hungary after the rules took effect, showing how compliance risk translated into reduced platform availability.
The measures also drew broader scrutiny. Bloomberg said crypto trading in Hungary declined under the restrictions and that the rules triggered a European Union probe into whether the framework complied with bloc law, putting Hungary’s crypto policy under both market and regulatory pressure.
Decriminalization Plan Still Needs Legal Detail
The reported reversal suggests Budapest is preparing to remove criminal exposure from crypto trading under the current government. However, the available reports do not yet include the final text of the revised rules, the implementation timeline or the full scope of withdrawn requirements.
That distinction matters for platforms, users and compliance teams. A stated plan to decriminalize trading is not the same as a completed legal overhaul, especially if some validation or supervisory requirements remain in place under a revised but still regulated framework.
For now, the confirmed position is limited to the government’s reported intent to loosen rules governing crypto-to-fiat and crypto-to-crypto activity. Bloomberg’s account remains the clearest public description of Hungary’s planned crypto rule reversal.
If implemented, the change could reopen space for crypto trading services that pulled back under the prior regime. The practical impact will depend on whether Hungary fully removes criminal penalties or simply replaces them with a less restrictive compliance model for crypto conversions.
