Revolut Resumes Crypto Services in Hungary – With Strings Attached

Hungarian crypto traders just got their leash slightly loosened. Revolut’s partial service restoration comes after regulators finished eyeballing their compliance paperwork—because nothing says 'financial freedom' like bureaucratic approval.

The neo-bank quietly flipped the switch back on for limited crypto transactions this week. No fanfare, no fireworks—just the faint sound of compliance officers high-fiving in a London office.

What’s working (and what’s not):

• Buy/sell? Yes. With extra KYC sprinkles.

• Withdrawals? Still locked down tighter than a banker’s bonus structure.

The move signals cautious optimism in a region where regulators treat crypto like a rebellious teen—monitoring every move but reluctantly handing back the car keys.

Meanwhile, traditional banks continue charging 2% FX fees for the privilege of moving your own money across borders. But sure, crypto’s the 'risky' play.

TLDR

• Revolut has resumed crypto staking and wallet withdrawals for Hungarian users.
• The company had earlier suspended all crypto services following new Hungarian legislation.
• The updated law enforces prison terms for unlicensed crypto activity in Hungary.
• Revolut users in Hungary can now access staking rewards and transfer previously held assets.
• Services like buying, selling, and new crypto deposits remain unavailable for now.

London-based fintech Revolut has reactivated some of its cryptocurrency features in Hungary after suspending services due to new regulations. The company had halted all crypto operations following strict legislative changes that introduced criminal liability for unauthorized digital asset transactions. Now, Hungarian users can access limited functions, including staking and wallet withdrawals.

Hungary’s updated rules, effective from July 1, mandate national licensing for all crypto-related services, regardless of EU registration. The law enforces criminal penalties for individuals and companies operating without approval, prompting Revolut’s initial freeze. After conducting a regulatory review, the company has resumed a subset of its previously available crypto features.

This partial recovery includes the ability to stake digital assets and withdraw existing holdings to external wallets. However, key functionalities such as crypto purchases, new deposits, and transfers into the platform remain restricted.

Revolut Resumes Wallet Withdrawals and Staking Rewards

Revolut has restored crypto staking for Hungarian users, allowing them to access staking rewards and manage already deposited assets. This update follows the earlier suspension of all crypto services after Hungary enacted laws penalizing unlicensed providers. Wallet withdrawals and partial staking capabilities are now available again.

Users can now release staking rewards and send tokens to external addresses, though only for cryptocurrencies previously held in Revolut accounts. New crypto deposits and purchases remain unavailable under the current regulatory environment. The company confirmed these changes in communications to affected Hungarian customers.

Despite resuming some operations, Revolut continues to monitor Hungary’s crypto environment closely to determine future service availability. The company’s reactivation of staking features signals a gradual shift towards compliance with local legislation. Revolut’s strategy aligns with its broader European approach under incoming EU regulation.

New Hungarian Rules Prompt Revolut’s Crypto Freeze

Hungary’s newly implemented crypto law mandates severe penalties for unauthorized activities, affecting both users and service providers. The law introduces up to five years of imprisonment for individuals and up to eight years for unlicensed operators. Revolut initially responded by halting all crypto functionalities, including buying, selling, and staking.

The legislation applies even to providers licensed in other EU jurisdictions, increasing legal uncertainty for cross-border services. As a result, Revolut temporarily disabled all crypto-related actions within Hungary to assess compliance risks. This pause included freezing retail, Revolut X, and Business crypto accounts.

Revolut resumed limited functions after clarifying its position with Hungarian regulators and evaluating potential penalties. The company now focuses on ensuring local alignment while awaiting further regulatory developments. Its staggered recovery shows how fintechs are adapting to Hungary’s increasingly restrictive crypto stance.

MiCA Licensing Push and Regional Restrictions Continue

Revolut is pursuing licensing under the EU’s new Markets in Crypto Assets (MiCA) regulation,which is currently under review by authorities. While waiting for license approval, the company paused new crypto account registrations in Hungary and several other EU countries. This MOVE aims to minimize regulatory risk during the transition to MiCA standards.

Alongside Hungary, Revolut restricted access to new crypto services in the Netherlands, Finland, Latvia, and Slovenia. These actions highlight the company’s effort to maintain legal compliance across diverse European jurisdictions. Until the MiCA license is secured, crypto onboarding remains suspended in these regions.

Although Revolut has resumed partial services in Hungary, full functionality is not expected until regulatory clarity improves. The company stated that buying, selling, and depositing cryptocurrencies remain unavailable for now.