Hungary has removed the requirement for mandatory third-party checks on crypto-to-fiat conversions, a move that cuts red tape for local exchanges and users. Separately, CoinCash has received authorization to provide digital asset services under the European Union's Markets in Crypto-Assets (MiCA) regulation, giving it a passport to operate across the bloc.
Hungary's regulatory pivot
Until this week, crypto service providers in Hungary were required to route conversions through a third-party intermediary for verification. That's now gone. The change, effective immediately, means exchanges can handle conversions directly without an extra layer of oversight. The government hasn't said why it moved now, but the timing aligns with broader EU efforts to standardize crypto rules under MiCA.
For Hungarian users, the practical effect is simpler transactions and potentially lower fees. For the industry, it's a signal that Budapest is willing to streamline its approach to digital assets. The country had been an outlier with the third-party mandate, which some firms said added friction without clear security benefits.
CoinCash's MiCA authorization
CoinCash, a crypto service provider, has been granted authorization under MiCA. That means it can now offer services like custody, exchange, and transfers across all 27 EU member states under a single license. The company didn't disclose which national regulator issued the approval, but MiCA allows firms to choose a home-country supervisor and then operate EU-wide.
The authorization is a milestone for CoinCash, which had been operating under national licenses in a handful of countries. With MiCA, it can scale without having to apply in each market. The timing is notable: MiCA's full implementation is still rolling out, and only a handful of firms have secured the passport so far.
CoinCash hasn't announced which specific services it will launch first under the new license, but the authorization covers the full suite of crypto-asset services defined in the regulation.
Two moves, one signal. Hungary's deregulation and CoinCash's license both point in the same direction: the EU's crypto framework is starting to reshape how business gets done. For Hungary, the question is whether dropping the third-party check will bring more firms to register there. For CoinCash, the real test begins now — can it turn a regulatory green light into actual market share?
