- Hungary’s parliament has repealed its crypto validation rules as CoinCash received the first MiCA license.
- Strict 2025 validator checks disrupted the market, prompting platforms to pause their operations.
- CoinCash says it will gradually resume operations and expand into other MiCA‑regulated activities.
The Hungarian Parliament has officially voted to abolish the country’s controversial national crypto validator system, removing mandatory third party checks for crypto conversions. The decision follows the National Bank of Hungary (Magyar Nemzeti Bank, or MNB) granting CoinCash the country’s first domestic license under the European Union’s Markets in Crypto Assets (MiCA) framework.
Hungary Repeals Crypto Checks as CoinCash Secures First MiCA License
On July 28, 2026, in a significant policy reversal, Hungary’s parliament passed a bill to repeal the mandatory third-party validation for certain cryptocurrency conversions. The National Assembly voted to approve bill T/305 with a majority of 143 votes, removing national regulations that mandated licensed validators to certify compliance in crypto-to-fiat and crypto-to-crypto transactions.
Meanwhile, the repeal coincides with a major milestone for Hungary’s crypto services. On July 20, 2026, the MNB granted a Crypto Asset Service Provider (CASP) license under MiCA to Tiwala Solutions Kft., the operator of CoinCash.
How Hungary’s Crypto Validation Rules Worked
In 2025, Hungary introduced additional national requirements for crypto-asset exchanges by amending Act VII of 2024 (the Crypto Act) and related laws. The core obligation required obtaining a declaration of conformity from a licensed validation provider supervised by the Supervisory Authority for Regulated Activities (SZTFH), and not by the MNB.
Additionally, Hungary shortened the MiCA transitional period for crypto-asset service providers (CASPs), requiring compliance by July 1, 2025, rather than the EU’s maximum of July 1, 2026. The tougher regulations saw several crypto firms suspend or withdraw services, such as CoinCash, Budapest-based firm that voluntarily halted operations in December 2025 to seek MiCA authorization, along with Revolut, MoonPay, Strike and Kriptomat.
Finance Minister Kármán András stated that these measures “disrupted” the Hungarian crypto market. “Due to the negative and market shaking regulations so far, many players have terminated their services related to cryptocurrencies in Hungary, but the market is now showing signs of recovery,” he said.
What’s Next for CoinCash?
CoinCash plans to gradually resume services and expand beyond trading into additional MiCA-regulated offerings. Existing clients will receive direct notifications with the detailed rollout schedule and timelines. The restart will initially focus on core exchange and transfer services, including its Bitcoin ATM network, with additional offerings phased in subsequently.
Beyond its current core trading business, CoinCash plans to expand its MiCA-regulated services with new offerings such as full custody, investment advice, and portfolio management, capitalizing on one of the broadest authorizations in the region.
Furthermore, the repeal of Hungary’s strict national validator rules positions CoinCash as the first and currently only locally licensed provider. “We’re the first and only Hungarian company authorised directly by the National Bank under the EU framework,” CoinCash co-founder Gábor Galántai said in a LinkedIn post.
Related: Hungary Scraps Criminal Penalties for Crypto Services
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