In a moment that has caught the attention of both crypto enthusiasts and financial watchdogs, UK-based digital banking titan Revolut has reignited its cryptocurrency offerings in Hungary after a regulatory hiccup earlier this summer. This partial revival not only signals a cautious step back into the crypto space but also indicates the complicated interplay between local laws and digital assets.
Why This Matters: The ability of fintech firms like Revolut to navigate changing regulatory landscapes is crucial, not just for their operations but for the entire cryptocurrency ecosystem. As traditional financial institutions grapple with new regulations, the implications for users and market confidence are significant. Understanding these dynamics could benefit all involved in the crypto world.
Following a significant regulatory overhaul, Revolut has resumed limited cryptocurrency functions, paving the way for users to deposit, release, and earn staking rewards through its app. A recent report from Portfolio.hu highlights that this move comes on the heels of Hungary’s new crypto law, which took effect on July 1. This law imposes strict penalties—up to five years in prison for individuals and six to eight years for companies engaged in unlicensed cryptocurrency activities, even if they operate under licenses issued in other European countries.
New regulations in Hungary have raised significant concerns regarding cryptocurrency operations.
Initially, the introduction of this law forced Revolut to halt all cryptocurrency services in early July, halting everything from buying and selling to staking and withdrawing funds. As the dust settled, Revolut gradually restored some functionality by mid-July, allowing users to make withdrawals once again. The latest development brings back staking features, enabling access to over 30 tokens for users eager to engage with vastly popular cryptocurrency assets.
Despite the scare with Hungary’s crypto regulations, some clarity is emerging. A closer look shows that the situation is not as black and white as it may seem. 🧵 #HungaryCrypto #CryptoNews pic.twitter.com/vwShsMnW3y— Fefe Demeny (@FefeDemeny) July 15, 2025
However, it’s important to underscore that core functionalities, like buying, selling, or receiving cryptocurrencies, remain offline. Users are still unable to initiate new crypto deposits, presenting a frustrating situation for those looking to dive back into the market. Revolut is currently seeking approval under the EU’s Markets in Crypto-Assets Regulation (MiCA), but the firm is awaiting additional guidance to better harmonize Hungary’s local rules with the broader European regulatory framework. Until then, full-fledged cryptocurrency services in Hungary remain on ice.
Founded in 2015, Revolut has rapidly emerged as one of the globe’s prominent fintech firms, boasting around 55 million customers and a workforce of approximately 10,000. Its journey has been marked by innovation and strategic expansion. Last year, the company unveiled a dedicated crypto trading platform, Revolut X, targeting retail customers in the UK. This platform was designed to compete directly with leading crypto exchanges by providing seamless on/off-ramps and competitive fees, making it accessible even to novice traders.
Revolut’s financial performance has been impressive, reporting an astounding $4.1 billion in revenue and maintaining a valuation near $45 billion. This remarkable growth has been achieved even without full banking licenses in key markets, a strategic oversight that CEO Nik Storonsky has candidly acknowledged. The company currently operates under a restricted license in the UK while holding a full European banking license via Lithuania. Not resting on its laurels, Revolut is eyeing banking permissions in ten additional markets and recently secured a Prepaid Payment Instruments license in India, with plans to launch in Mexico shortly.
Future Outlook: As Revolut continues to navigate the complexities of global expansion, all eyes will be on how it adapts to rapidly evolving regulations. With ongoing growth across Southern Europe, the Nordics, the Middle East, and the Asia-Pacific region, Revolut aims to solidify itself as a formidable global financial platform. How these endeavors unfold will undoubtedly set the tone for future fintech innovations in a crypto-centric world.
As cryptocurrency markets evolve and regulatory frameworks become more stringent, one thing is clear: keeping an eye on the developments in nations like Hungary will be crucial for anyone involved in the crypto space. Will Revolut emerge unscathed from this regulatory storm, or will the hurdles prove to be too daunting? Only time will tell. For now, remain informed, adapt swiftly, and keep those digital wallets ready!