Hungary repeals crypto validator rule after MiCA license

Hungary has repealed a mandatory third-party validation requirement for certain cryptocurrency transactions, a move officials said was intended to reverse market disruption caused by earlier regulations. The Hungarian parliament voted to remove the rule on Tuesday, July 28, 2026, eliminating an extra approval step that had existed alongside the European Union's Markets in Crypto-Assets (MiCA) framework.

Finance Minister Kármán András stated that the previous regulatory framework had negatively impacted the domestic crypto market, leading many service providers to suspend or withdraw their operations in the country. In a social media post, he said the market is now showing signs of recovery following the policy change.

The validator requirement was introduced under Hungary's 2024 crypto assets law and took effect on July 1, 2025. It mandated that a licensed validator verify details such as the origin of assets, wallet ownership, and customer information before issuing a compliance declaration for certain crypto-to-fiat and crypto-to-crypto conversions. This created an additional layer of operational complexity and cost for service providers on top of their MiCA obligations.