- Hungary has removed an additional crypto transaction validation requirement while keeping MiCA licensing and domestic compliance obligations in place.
- The government says the policy change is intended to help revive a market that saw companies suspend or withdraw services under the previous framework.
- CoinCash has secured Hungary’s first direct MiCA authorisation from the National Bank and plans to gradually resume and expand its services.
Hungary has repealed legislation requiring certain cryptocurrency transactions to undergo mandatory third-party validation, removing an additional layer of oversight that operated alongside the European Union’s Markets in Crypto-Assets regulation.
According to the government, the previous framework discouraged participation in the local digital asset market and contributed to companies suspending or ending cryptocurrency services. Finance Minister Kármán András said the market was beginning to recover following the policy change.
The validator system, introduced under the country’s 2024 crypto assets law, came into force on 1 July 2025. Covered crypto conversions required approval from licensed validators, who assessed matters including wallet ownership, customer verification and the origin of digital assets before issuing compliance certificates.
Related: Euro Trading Makes Up Just 1% of Binance Volume as MiCA Licensing Pressure Mounts
MiCA Remains at the Centre of Regulation
While the transaction-level approval process has been removed, Hungary continues to require crypto asset service providers to comply with MiCA, as well as domestic licensing, anti-money laundering and customer verification requirements.
Hungary had previously adopted a shorter MiCA transition period than other EU jurisdictions, requiring firms to comply by 1 July 2025 rather than allowing the longer transition available elsewhere until 1 July 2026.
The regulatory changes coincide with CoinCash becoming the first Hungarian company to receive direct MiCA authorisation from the National Bank of Hungary. Following a months-long compliance review, the company plans to gradually restore services and broaden its range of authorised digital asset products.
Related: Binance Bleeds $400M+ in Outflows After Pulling Greek MiCA License Bid
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