Hungary Repeals Crypto Checks as CoinCash Gets First MiCA License

Hungary has repealed its strict crypto checks as CoinCash prepares to resume services after receiving authorization under the European Union's Markets in Crypto-Assets (MiCA) regulation.

The Hungarian Parliament voted to repeal the country's crypto validator requirement, removing mandatory third-party approval for certain crypto transactions.

Finance Minister Kármán András said the government removed the validation requirement because the previous rules disrupted Hungary's crypto market, prompting some service providers to halt operations in the country.

CoinCash received Hungary's first MiCA license from the National Bank of Hungary (MNB), allowing it to resume services and expand into additional MiCA-regulated offerings.