Hungary has repealed its strict crypto validator requirement, removing mandatory third-party approval for certain crypto transactions. This comes as CoinCash received authorization under the EU's MiCA regulation, becoming the first Hungarian company to do so.
Hungary's rollback of strict crypto checks and the granting of the first MiCA license signal a potential recovery and increased activity in the country's digital asset market, aligning it more closely with broader EU regulatory standards.
Hungary has repealed its strict crypto validator requirement, removing the need for mandatory third-party approval for certain crypto transactions. This move follows concerns that the previous regulations disrupted the market and led some service providers to cease operations in the country.
The Hungarian parliament voted to repeal the requirement, which was introduced through the 2024 crypto assets law and was set to take effect on July 1, 2025. This validation process required a licensed validator to verify asset origin, wallet ownership, and customer information before issuing a compliance declaration, adding an extra layer of approval on top of the EU's Markets in Crypto-Assets (MiCA) regulation.
Simultaneously, CoinCash, operated by Tiwala Solutions, has become the first Hungarian company to receive direct authorization under the EU's MiCA framework from the National Bank of Hungary on July 20. The company had voluntarily paused operations in December 2025 while pursuing this authorization. The approval covers a comprehensive range of digital asset services, including custody, crypto-to-fiat and crypto-to-crypto exchanges, transfers, investment advice, and portfolio management. CoinCash plans a phased resumption of services and expansion into additional MiCA-regulated offerings.