Hungary’s parliament removes third-party validation for crypto conversions as CoinCash becomes the first firm licensed under EU’s MiCA framework.
Hungary’s parliament voted to eliminate mandatory third-party validation for certain cryptocurrency transactions, lifting requirements to verify asset origins, wallet ownership, and customer details. The move simplifies crypto conversions by removing regulatory hurdles for exchanges and users.
Separately, the National Bank of Hungary granted CoinCash operator Tiwala Solutions the country’s first authorization under the EU’s Markets in Crypto-Assets (MiCA) regulation. The license covers custody, crypto-to-fiat and crypto-to-crypto exchanges, transfers, investment advice, and portfolio management, effective July 20.
The changes align Hungary’s crypto framework with broader EU standards while reducing compliance costs for market participants.