Transcranial magnetic stimulation (TMS) is a transformative medical technology with significant therapeutic applications. However, its potential use for neuroenhancement raises complex ethical, legal, and societal questions. This chapter explores these implications through a structured ethical framework focused on fairness, autonomy, authenticity, moral agency, and human dignity. While empirical evidence for TMS’s neuroenhancement capabilities remains limited, emerging trends in biohacking, military applications, and increased accessibility necessitate anticipatory governance. The analysis highlights TMS’ unique ability to target-specific neural circuits, raising concerns about competitive fairness, access disparities, and potential coercion. Special attention is given to high-stakes contexts, such as military use, where issues of informed consent and long-term impacts are especially critical. This chapter also examines regulatory challenges, including the implications of the European Union Artificial Intelligence (EU AI) Act for AI-enhanced TMS systems, and advocates for balanced oversight that safeguards innovation while protecting public trust. By synthesizing neuroscientific, ethical, and legal perspectives, this chapter provides actionable recommendations for policy development, equitable access, and responsible innovation. Addressing these complexities proactively is essential to ensuring TMS’s transformative potential is realized without compromising fundamental human values.