Hungary Abolishes Crypto Validation Requirement as CoinCash Wins First MiCA License

Hungary has repealed its strict domestic crypto asset validation requirement after lawmakers voted to align the country's legal framework directly with the European Union's Markets in Crypto-Assets (MiCA) regulation.

The National Bank of Hungary granted the first official MiCA license to Budapest-based exchange platform CoinCash, paving the way for other companies to operate under the EU's unified regulatory framework.

Finance Minister Kármán András spearheaded the repeal, citing that the domestic requirement created friction and conflicted with overarching EU law.