Hungary scraps crypto validator checks to align with MiCA framework

Hungary has removed its controversial cryptocurrency validator requirement after lawmakers voted to repeal the rule, clearing the way for crypto firms including CoinCash to restore services under the European Union’s Markets in Crypto-Assets (MiCA) framework. Summary Hungary has repealed its mandatory crypto validator requirement after Parliament voted to remove the rule. The government said the previous framework drove crypto firms out of the market and disrupted trading activity. CoinCash has received Hungary’s first MiCA license and plans to gradually resume crypto services. The latest changes move Hungary’s crypto rules closer to the European Union’s MiCA framework. According to Hungarian tax and legal publication Ado.hu, the Hungarian Parliament approved legislation on Tuesday repealing the mandatory third-party validation process that had applied to certain cryptocurrency transactions. Finance Minister Kármán András said the government decided to eliminate the requirement after the previous framework disrupted the domestic crypto market and led several companies to withdraw or suspend their services. Writing on Facebook, András said many cryptocurrency businesses had ended op...