Digital banking platform Revolut has reinstated its cryptocurrency staking services for users in Hungary after a brief suspension prompted by new local regulations. The pause began on July 7 following a law that criminalized trading on unlicensed crypto platforms.
A Revolut spokesperson confirmed to CoinDesk that, after reviewing the legislation, the company determined the new rules apply solely to crypto-asset exchanges, allowing it to safely resume staking. The service enables customers to earn rewards by validating transactions on supported blockchain networks directly through Revolut’s app, with the flexibility to stop staking at any time.
While staking is now active, other crypto services remain suspended. Users cannot make new crypto deposits, though they can withdraw or transfer existing assets to external wallets. Revolut is also navigating compliance with the European Union’s Markets in Crypto-Assets (MiCA) regulation, which mandates companies obtain a license in at least one EU member state to operate across the bloc.
To meet MiCA requirements, Revolut stopped opening new accounts in the Netherlands, Finland, Hungary, Latvia, and Slovenia as of June 30. The company has yet to secure a MiCA license, a step crucial for its broader European crypto operations.
The move reflects Revolut’s ongoing efforts to adapt to tightening cryptocurrency regulations across Europe, balancing user demand for staking services with the need to comply with evolving legal frameworks.
