Hungary Repeals Crypto Validator Rule

Hungary's parliament voted to repeal a mandatory third-party validation rule for certain cryptocurrency transactions, which had been introduced under the 2024 crypto assets law and took effect on July 1, 2025. The rule required licensed validators to verify asset origins, wallet ownership, and customer information before issuing compliance declarations, creating an additional compliance layer alongside the EU's Markets in Crypto-Assets (MiCA) regulation. Finance Minister Kármán András stated that the rule had disrupted the market and contributed to service suspensions. Concurrently, CoinCash, operated by Tiwala Solutions, received MiCA authorization from the Hungary — Hungarian National Bank on July 20, becoming the first Hungarian company authorized directly under the EU framework. The license covers custody, crypto-to-fiat and crypto-to-crypto exchange, transfers, investment advice, and portfolio management. CoinCash had paused operations in December 2025 to pursue compliance and now plans a gradual service restart and expansion into additional regulated offerings. Hungary had also adopted a shorter MiCA transition period, requiring compliance by July 1, 2025, rather than the EU's maximum deadline of July 1, 2026.