diff --git a/x/tokenfactory/keeper/msg_server_test.go b/x/tokenfactory/keeper/msg_server_test.go
index 5130f266b..fd51c7a4f 100644
--- a/x/tokenfactory/keeper/msg_server_test.go
+++ b/x/tokenfactory/keeper/msg_server_test.go
@@ -869,24 +869,36 @@ func TestMsgUpdateParamsValidate(t *testing.T) {
 			"authority is invalid",
 		},
 		{
-			"empty fee_collector_address",
+			"empty fee_collector_address with denom_creation_fee",
 			types.MsgUpdateParams{
 				Authority: testutil.TestOwnerAddress,
 				Params: types.Params{
 					FeeCollectorAddress: "",
+					DenomCreationFee:    sdktypes.NewCoins(sdktypes.NewCoin("untrn", math.OneInt())),
 				},
 			},
-			"fee_collector_address is invalid",
+			"DenomCreationFee and FeeCollectorAddr must be both set or both unset",
+		},
+		{
+			"fee_collector_address empty denom_creation_fee",
+			types.MsgUpdateParams{
+				Authority: testutil.TestOwnerAddress,
+				Params: types.Params{
+					FeeCollectorAddress: testAddress,
+				},
+			},
+			"DenomCreationFee and FeeCollectorAddr must be both set or both unset",
 		},
 		{
 			"invalid fee_collector_address",
 			types.MsgUpdateParams{
 				Authority: testutil.TestOwnerAddress,
 				Params: types.Params{
+					DenomCreationFee:    sdktypes.NewCoins(sdktypes.NewCoin("untrn", math.OneInt())),
 					FeeCollectorAddress: "invalid fee_collector_address",
 				},
 			},
-			"fee_collector_address is invalid",
+			"failed to validate FeeCollectorAddress",
 		},
 	}
 
diff --git a/x/tokenfactory/types/tx.go b/x/tokenfactory/types/tx.go
index 8b908d852..3925b0b5a 100644
--- a/x/tokenfactory/types/tx.go
+++ b/x/tokenfactory/types/tx.go
@@ -32,11 +32,5 @@ func (msg *MsgUpdateParams) Validate() error {
 		return errorsmod.Wrap(err, "authority is invalid")
 	}
 
-	// TODO: This is inconsistent. Per Params.Validate() an empty creator address is valid as long as
-	// DenomCreationFee is nil. But This check fails if FeeCollectorAddress is unset.
-	if _, err := sdk.AccAddressFromBech32(msg.Params.FeeCollectorAddress); err != nil {
-		return errorsmod.Wrap(err, "fee_collector_address is invalid")
-	}
-
 	return msg.Params.Validate()
 }