Cointelegraph reported that Hungary has abolished the third-party verification obligation that was applied to cryptocurrency transactions and issued the first MiCA (European crypto-asset regulation) license to a domestic company. According to Ado.hu, a local legal news outlet, the Hungarian Parliament passed a bill to abolish the third-party verification procedure that applied to certain cryptocurrency conversion transactions. This system was introduced under the cryptocurrency law enacted in 2024 and stipulated that from July 1, 2025 (local time), a licensed verification body would confirm the origin of the cryptocurrency, wallet ownership, and customer information before issuing a certificate of conformity. Finance Minister Kármán András stated that the existing regulations caused confusion in the cryptocurrency market, leading some operators to suspend services, and that the regulations were withdrawn to alleviate market disruption.
