Overview
- CoinCash, which recently secured a MiCA licence after a long review, reported that Hungary’s parliament approved legislation to repeal the country’s additional national crypto requirements, but the vote has not been independently verified.
- Hungary’s extra measures had required a national “validator” to certify exchange transactions and imposed criminal penalties for unauthorised services, and those rules forced several providers to suspend, withdraw or relocate services.
- CoinCash says its MiCA licence will remain valid whether or not the repeal takes effect, and the removal of the extra rules would let other MiCA‑authorised firms serve Hungarian clients using the EU single‑market passport.
- The report stresses legal uncertainty because independent confirmation from Hungarian authorities is still needed and the repeal will only take legal effect after the domestic legislative process is completed.
- With the EU’s MiCA framework now in force, alignment by member states matters commercially; restored passporting could bring back consumer access, encourage firms to return, and reshape where crypto firms choose to base operations in the bloc.