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Revolut Freezes Crypto Services in Hungary Following Government Ban
Revolut Freezes Crypto Services in Hungary Following Government Ban
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BTCCSquare news:
British fintech firm Revolut has suspended all cryptocurrency operations in Hungary after the government declared crypto transactions illegal. The abrupt halt, effective July 7, froze trading and account activity, sparking a surge in customer complaints.
Revolut cited evolving EU regulations, including the upcoming MiCA framework, as the reason for pausing new crypto sign-ups in select markets. Existing users face restricted access as the company navigates compliance requirements.
The freeze highlights growing regulatory tensions across Europe as authorities implement stricter crypto oversight. Revolut maintains it's monitoring developments and will update users as the situation evolves.
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