Hungary Repeals Crypto Checks as CoinCash Gets First MiCA License
Hungary's government has rolled back strict crypto regulations 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 after 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 on July 20, covering custody, crypto-to-fiat and crypto-to-crypto exchange, transfers, investment advice, and portfolio management. The company completed a months-long compliance review before receiving approval and paused operations while preparing to meet the requirements.