Key facts
- Hungary repealed its mandatory third-party crypto transaction checks.
- CoinCash can resume services in Hungary under MiCA regulation.
- South Korea's financial regulator plans to draft a consolidated digital asset bill.
- The South Korean bill will cover stablecoins and other crypto assets.
- The regulatory changes in Hungary allow for greater flexibility in crypto operations.
Hungary has repealed its mandatory third-party crypto transaction checks, a significant regulatory shift that allows CoinCash to resume its services. The company had previously been required to conduct these checks, but the new regulation removes this obligation, enabling CoinCash to operate under the MiCA (Markets in Crypto-Assets) framework. This development signifies a move towards greater flexibility and potentially broader adoption of crypto services within Hungary.
Meanwhile, in South Korea, the financial regulator is planning to draft a consolidated digital asset bill. This proposed legislation is intended to cover a range of crypto assets, including stablecoins, and aims to create a unified regulatory structure. The move by South Korea indicates a proactive approach to managing the evolving landscape of digital assets and ensuring a more coherent legal framework for their operation and oversight within the country.