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Hungary drops crypto validation checks as CoinCash wins first MiCA authorization

Hungary drops crypto validation checks as CoinCash wins first MiCA authorization

Parliament removed mandatory wallet and asset-origin checks for some crypto trades, easing a domestic rule that had gone beyond MiCA as CoinCash prepares to restore services.

Fact Check
Both core claims are independently corroborated. The Cointelegraph article and Jogászvilág confirm the parliamentary repeal of the third-party crypto validation rule that took effect July 1, 2025 (Parliament vote 143-46-1 on July 28, 2026, government citing EU-law incompatibility). Cointelegraph and Daily News Hungary confirm Tiwala Solutions (CoinCash) received Hungary's first MiCA authorization from MNB on July 20, 2026, while broader licensing/compliance requirements remain in place. All specifics in the claim match the sources.
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Summary

Hungary has repealed a mandatory third-party validation requirement for certain cryptocurrency transactions, removing an extra approval layer that operated alongside the European Union’s MiCA framework while leaving broader licensing and compliance rules for crypto asset service providers in place. Finance Minister Andras Kalman said the amendment ends obligations for certain crypto exchanges to verify wallet ownership, asset origin and customer information, reflecting a policy shift aimed at reducing regulatory burdens and improving market convenience and competitiveness. The validator system, created under Hungary’s 2024 crypto assets law, required approval from a licensed local validator for covered crypto-to-fiat and crypto-to-crypto conversions after the rules took effect on July 1, 2025. The repeal follows a broader policy shift after Hungary’s April 2026 parliamentary election, which ended former Prime Minister Viktor Orbán’s 16-year tenure and brought Peter Magyar’s Tisza Party into government. CoinCash operator Tiwala Solutions received Hungary’s first MiCA authorization from the National Bank of Hungary on July 20, allowing it to offer custody, exchange, transfers, investment advice and portfolio management, and the company said it will gradually restore services after suspending operations in December 2025.

Terms & Concepts
  • MiCA: The European Union’s Markets in Crypto-Assets framework for regulating crypto firms and services.
  • custody: The safekeeping of clients’ digital assets by an authorized service provider.
  • crypto asset service providers: Companies licensed to offer services such as trading, transfers or custody for digital assets.