TL;DR
- Regulatory shift: Hungary repealed its crypto validator rule after the requirement disrupted the market and pushed providers to suspend services.
- MiCA authorization: CoinCash secured approval from the National Bank of Hungary, becoming the first local company authorized directly under the EU’s MiCA framework.
- Service resumption: CoinCash paused operations during a lengthy compliance review and now plans to gradually restart services while expanding into additional MiCA-regulated activities.
Hungary is reshaping its crypto regulatory landscape after rolling back a strict validator requirement that had disrupted local activity and pushed several providers out of the market. The shift comes as CoinCash prepares to resume operations following its newly granted authorization under the European Union’s Markets in Crypto-Assets (MiCA) framework.
Regulatory rollback signals a policy reset
The Hungarian Parliament voted to repeal the country’s crypto validator rule, according to tax and legal outlet Ado.hu. The requirement forced certain crypto transactions to undergo mandatory third-party approval, creating an additional compliance layer that many operators found unworkable.
Finance Minister Kármán András said the rule had shaken the market and contributed to service suspensions across the sector. He noted that Hungary is now seeing early signs of recovery after removing the validator step, introduced by the 2024 crypto assets law. Under the previous system, validators were tasked with verifying the origin of crypto assets, wallet ownership, and customer information before issuing a compliance declaration.
The process took effect on July 1, 2025, and operated alongside MiCA, effectively doubling the approval burden for crypto asset service providers. Hungary also applied a shortened MiCA transition period, requiring compliance by July 1, 2025, one year earlier than the EU’s maximum deadline.
CoinCash prepares to return after securing MiCA authorization
The stricter environment prompted several platforms to pause operations, including Budapest-based CoinCash, which halted services in December 2025 while pursuing MiCA approval. The National Bank of Hungary granted authorization to the CoinCash operator, Tiwala Solutions, on July 20, according to a company announcement.
Co-founder Gábor Galántai said the firm is 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 said it completed a months-long compliance review and paused operations to meet MiCA’s requirements. With approval secured, CoinCash plans a gradual service restart and aims to expand beyond trading into additional regulated offerings.
