Hungary Ends Crypto Approval Requirement After Market Disruption

TLDR

• Hungary scraps mandatory crypto validation after rules disrupted the market.
• CoinCash secures Hungary’s first direct MiCA approval from the central bank.
• The repeal removes extra transaction checks while MiCA duties remain in force.
• Earlier rules pushed crypto firms to suspend services and reduce local activity.
• CoinCash plans a gradual return with custody, trading and advisory services.

Hungary has abolished its crypto transaction validator rule after lawmakers found the requirement conflicted with European Union law. The repeal removes mandatory third-party approval for certain conversions and supports renewed services under the MiCA framework. CoinCash now plans a gradual market return after securing direct authorization from the National Bank of Hungary.

Parliament Removes Crypto Validator Rule

Parliament approved legislation repealing the validation obligation imposed on crypto asset service providers and selected transactions. The measure also removes related criminal offences covering crypto misuse and unauthorized exchange services. Firms must still meet licensing, customer protection, and compliance standards under MiCA.

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