Hungary Repeals Crypto Transaction Validation Requirements

Hungary has rolled back its strict crypto exchange checks, removing an additional layer of oversight on cryptocurrency transactions. The move is aimed at reviving a market that saw companies suspend or withdraw services under the previous framework.

The government says the policy change will help revive the local digital asset market, which was discouraged by the previous requirements. Finance Minister Kármán András stated that the market was beginning to recover following the policy change.

CoinCash has become the first Hungarian company to receive direct MiCA authorisation from the National Bank of Hungary. The company plans to gradually restore services and broaden its range of authorised digital asset products.