Revolut has reinstated its crypto staking services for customers in Hungary following a temporary suspension triggered by new government regulations, Coindesk reported.
The digital bank halted most of its cryptocurrency features in Hungary earlier this month due to a law that criminalizes trading on unlicensed crypto platforms.
Legal Review Allows Staking Services to Return
On July 7, Revolut paused crypto services after Hungary introduced strict legislation penalizing unauthorized crypto trading and exchange activities. Under the law, providers operating without a license face up to eight years in prison, while users risk five-year sentences. This move forced Revolut to suspend various crypto functions for its Hungarian clientele.
After conducting an in-depth legal review, Revolut stated that it is now comfortable bringing staking back because the law explicitly targets crypto-asset exchanges, and staking Staking Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve Read this Term activities are exempt. Customers in Hungary can once again use Revoluts app to stake tokens, verify blockchain transactions, and earn rewards, with the ability to stop staking anytime.
Despite this partial restoration, other crypto operations remain on hold in Hungary. Revolut is not accepting new crypto deposits, though existing holdings can be transferred from the platform. Withdrawals resumed earlier in July.
Read more: Hungary to Jail Crypto Traders for 5 Years for Using Unauthorised Platforms
The regulatory restrictions in Hungary come amid wider challenges across the European Union. The new Markets in Crypto Assets (MiCA) rules require firms to obtain licenses in at least one EU state before offering services throughout the bloc. Revolut has yet to obtain a MiCA license and has suspended opening new accounts in several EU countries to comply.
Recent Enforcement Actions
Hungary recently enacted sweeping legislation targeting unlicensed cryptocurrency activity, introducing stiff penalties for individual traders and service providers. The new laws, which came into effect on July 1, 2025, criminalize trading on so-called unauthorized crypto-asset exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term services, with prison sentences ranging from two to eight years depending on the amount involved.
Under the amended criminal code, individuals trading between 5 million and 50 million forints (approximately $14,600 to $145,950) on unlicensed platforms could face up to two years in prison.
Transactions valued between 50 million and 500 million forints ($145,950 to $1.46 million) raise the maximum sentence to three years, while volumes exceeding 500 million forints ($1.46 million) carry penalties of up to five years behind bars.
Service providers operating without authorisation face even steeper consequences. Facilitating trades worth up to 50 million forints could result in a three-year sentence, rising to five years for amounts up to 500 million forints.
Revolut has reinstated its crypto staking services for customers in Hungary following a temporary suspension triggered by new government regulations, Coindesk reported.
The digital bank halted most of its cryptocurrency features in Hungary earlier this month due to a law that criminalizes trading on unlicensed crypto platforms.
Legal Review Allows Staking Services to Return
On July 7, Revolut paused crypto services after Hungary introduced strict legislation penalizing unauthorized crypto trading and exchange activities. Under the law, providers operating without a license face up to eight years in prison, while users risk five-year sentences. This move forced Revolut to suspend various crypto functions for its Hungarian clientele.
After conducting an in-depth legal review, Revolut stated that it is now comfortable bringing staking back because the law explicitly targets crypto-asset exchanges, and staking Staking Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve Read this Term activities are exempt. Customers in Hungary can once again use Revoluts app to stake tokens, verify blockchain transactions, and earn rewards, with the ability to stop staking anytime.
Despite this partial restoration, other crypto operations remain on hold in Hungary. Revolut is not accepting new crypto deposits, though existing holdings can be transferred from the platform. Withdrawals resumed earlier in July.
Read more: Hungary to Jail Crypto Traders for 5 Years for Using Unauthorised Platforms
The regulatory restrictions in Hungary come amid wider challenges across the European Union. The new Markets in Crypto Assets (MiCA) rules require firms to obtain licenses in at least one EU state before offering services throughout the bloc. Revolut has yet to obtain a MiCA license and has suspended opening new accounts in several EU countries to comply.
Recent Enforcement Actions
Hungary recently enacted sweeping legislation targeting unlicensed cryptocurrency activity, introducing stiff penalties for individual traders and service providers. The new laws, which came into effect on July 1, 2025, criminalize trading on so-called unauthorized crypto-asset exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term services, with prison sentences ranging from two to eight years depending on the amount involved.
Under the amended criminal code, individuals trading between 5 million and 50 million forints (approximately $14,600 to $145,950) on unlicensed platforms could face up to two years in prison.
Transactions valued between 50 million and 500 million forints ($145,950 to $1.46 million) raise the maximum sentence to three years, while volumes exceeding 500 million forints ($1.46 million) carry penalties of up to five years behind bars.
Service providers operating without authorisation face even steeper consequences. Facilitating trades worth up to 50 million forints could result in a three-year sentence, rising to five years for amounts up to 500 million forints.