Hungary repeals crypto transaction validation requirements while granting CoinCash operator Tiwala Solutions the country's first MiCA license.
Regulation & Gov ·
Hungary's parliament has repealed rules requiring third-party validation of certain crypto conversions, eliminating checks on asset provenance, wallet ownership verification, and customer identity confirmation before transactions proceed. In a separate regulatory move, the National Bank of Hungary granted Tiwala Solutions, the operator of CoinCash, the country's first MiCA authorization on July 20, clearing the company to offer custody, crypto-to-fiat and crypto-to-crypto exchange services, along with transfers, investment advice, and portfolio management.
The two actions reflect divergent regulatory directions: one loosens transaction oversight while the other formalizes compliance frameworks under the EU's Markets in Crypto-Assets Regulation. The repeal signals Hungary's intent to reduce friction in crypto asset conversions, though it clarifies which conversions fall under the removed validation mandate.
The implications of easing validation rules while simultaneously issuing MiCA licenses remain unclear. It is not specified whether the repealed requirements applied to MiCA-regulated entities like Tiwala Solutions, whether the repeal was limited to peer-to-peer conversions, or how the two measures interact in practice.