The Hungarian National Bank (MNB) has issued its first-ever license under the European Union's Markets in Crypto-Assets (MiCA) regulation, granting approval to CoinCash.
The authorization makes CoinCash the first and currently only Hungarian-headquartered crypto-asset service provider to operate under the EU's unified regulatory framework.
This marks a significant milestone for Hungary's financial sector, transitioning the country's crypto market from an unregulated or loosely supervised state to one governed by strict EU standards.
The decision by the MNB, led by Governor Varga Mihály, represents a historic step for the domestic crypto industry.
By issuing this license, the central bank is effectively opening the door for legitimate, compliant crypto businesses to operate within Hungary.
This move is likely to attract further investment and institutional interest in the Hungarian crypto market, as companies seek jurisdictions with clear regulatory pathways.