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Minister of Science and Technology Zoltán Tanács said the previous system introduced sudden “validator gatekeepers,” with only one company initially, and later just two, authorized to approve crypto transactions, a structure he described as a severe market‑restricting measure that rendered an entire innovative sector non‑functional.
The rules also exposed 600,000–800,000 private users to potential criminal liability, including the threat of prison, simply for holding or exchanging digital assets, causing many to lose hundreds of thousands or even millions of forints as legal uncertainty made normal activity risky or impossible.
Tanács emphasized that the issue extends beyond Bitcoin to broader blockchain‑based financial and data‑transfer technologies, which he called a key direction for the future, noting that the EU had already launched an infringement procedure against Hungary over the excessively strict rules.
The government now plans to introduce proportionate, transparent regulation focused on anti‑money‑laundering and consumer protection without criminal penalties for ordinary users.
Tanács said the goal is to ensure Hungary becomes a participant, not a laggard, in blockchain‑based technological development
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