The Hungarian government has announced plans to lift criminal penalties associated with cryptocurrency transactions, reversing regulations imposed during the tenure of former Prime Minister Viktor Orbán. This move will eliminate the threat of imprisonment for violations related to crypto-to-fiat and crypto-to-crypto transactions, which previously required an approved verification process. The decision marks a significant shift in Hungary's approach to cryptocurrency regulation, as the country aims to foster a more favorable environment for digital asset exchanges. The previous rules, implemented last year, had tightened controls on cryptocurrency exchanges, mandating strict compliance measures that are now set to be rescinded.