Hungary Eases Crypto Rules After First MiCA License Issued
Hungary has rolled back its strict crypto rules after CoinCash received authorization under the European Union's Markets in Crypto-Assets (MiCA) regulation.
The country's parliament voted to repeal the requirement for a licensed validator to verify certain crypto transactions, removing an additional approval step while leaving broader licensing and compliance requirements in place.
Finance Minister Kármán András said the previous rules disrupted Hungary's crypto market, prompting some service providers to halt operations in the country. The government removed the validation requirement after the market showed signs of recovery.
CoinCash was granted MiCA authorization by the National Bank of Hungary (MNB) on July 20, allowing it to resume services and expand into additional offerings regulated under MiCA.