Revolut Partially Restores Crypto Services in Hungary Amid Regulatory Crackdown

Revolut has reinstated limited cryptocurrency functionality for Hungarian users, allowing transfers of over 30 supported tokens to external wallets. The fintech giant had suspended all crypto operations earlier this month following Hungary's stringent new digital asset regulations.

The restored services apply only to existing holdings—new crypto deposits remain frozen. This cautious approach comes as Hungary implements draconian penalties for unlicensed crypto activities, including prison terms of up to eight years for platform operators.

Notably, the legislation disregards EU licensing from other jurisdictions, creating regulatory uncertainty. Revolut's measured reopening suggests compliance teams are navigating uncharted legal territory while attempting to maintain service continuity.