Hungary Rolls Back Crypto Regulations as CoinCash Receives MiCA License

Hungary's Parliament has repealed its strict crypto validator requirement, which took effect on July 1, 2025, and disrupted the local market. The rollback comes as the National Bank of Hungary granted Tiwala Solutions, operator of CoinCash, the country's first MiCA license on July 20, 2026. CoinCash had paused operations in December 2025 but now plans to resume services under the EU framework.

Hungary crypto validation repeal

• ▪Hungary's crypto validation rules, introduced in its 2024 crypto assets law, took effect on July 1, 2025, requiring a licensed validator to verify asset details.
• ▪The Hungarian Parliament voted to repeal the country's crypto validator requirement, which had mandated third-party approval for certain crypto transactions.

MiCA transition period requirements

• ▪The European Union's maximum transition deadline for Markets in Crypto-Assets compliance is July 1, 2026.
• ▪Hungary applied a shortened Markets in Crypto-Assets transition period for crypto asset service providers, requiring compliance by July 1, 2025.

CoinCash MiCA authorization

• ▪The National Bank of Hungary granted CoinCash operator Tiwala Solutions authorization under the European Union's Markets in Crypto-Assets regulation on July 20, 2026.
• ▪CoinCash's Markets in Crypto-Assets authorization covers custody, crypto-to-fiat and crypto-to-crypto exchange, transfers, investment advice, and portfolio management.

Hungarian crypto market disruption

• ▪Hungarian Finance Minister Kármán András stated on July 28, 2026, that previous crypto validation rules disrupted Hungary's crypto market, prompting some service providers to halt operations.
• ▪Budapest-based crypto platform CoinCash voluntarily paused its operations in December 2025 while pursuing Markets in Crypto-Assets authorization.

Regulatory compliance framework

• ▪Hungary's repeal of the crypto validator requirement removes an additional transaction-level approval step while leaving broader licensing and compliance requirements in place.
• ▪CoinCash completed a months-long compliance review before receiving approval from the National Bank of Hungary and plans to gradually resume services.