Hungary's election result may ease strict crypto rules, says media outlet

Hungary's stringent cryptocurrency regulations could be relaxed following the opposition Tisza party's landslide victory over the ruling Fidesz party in the general election on April 12, BeInCrypto reported. The outlet noted that the era of Prime Minister Viktor Orbán, who has led the country for 16 years, is coming to a close. The Orbán government had implemented a strict policy requiring crypto exchanges to obtain special licenses to operate, a measure considered more stringent than the European Union's Markets in Crypto-Assets (MiCA) regulation. The European Commission (EC) had previously filed a treaty violation lawsuit against the Hungarian government over the policy. Following the opposition's win, there is growing optimism within the local crypto industry that Hungary's high regulatory barriers to entry may be lowered.