Revolut Resumes Crypto Staking in Hungary After Legal Review Amid New Regulatory Law

Revolut, a digital bank, has resumed cryptocurrency staking services in Hungary following a temporary suspension that began in early July, according to reports. The company had halted most of its crypto-related offerings in the country due to the implementation of a new law imposing strict penalties on unlicensed cryptocurrency exchanges. The law, which took effect on July 1st, carries prison sentences of up to five years for retail users and eight years for service providers involved in unauthorized activities. Revolut’s legal team concluded that staking services do not fall under the law’s definition of “cryptocurrency exchange activities,” leading to the service’s reinstatement [1]. A company spokesperson described the initial pause as a precautionary measure to align with evolving local regulations [2].

The resumption of staking—a process where users lock crypto assets to earn rewards—reflects Revolut’s strategy to balance compliance with market competitiveness. The firm emphasized that the move aims to bolster investor confidence and provide secure opportunities for Hungarian clients [3]. This decision underscores the challenges faced by fintech companies in navigating regulatory shifts, particularly in regions where crypto frameworks remain fluid. The Hungarian law’s ambiguity initially created uncertainty, prompting Revolut to reassess its operations. However, the firm’s ability to resume services suggests it has addressed compliance concerns without compromising its presence in the market.

From an analytical perspective, the reinstatement highlights Hungary’s potential as a strategic hub for crypto innovation, contingent on regulatory stability. By reintroducing staking, Revolut is positioning itself to retain existing users and attract new clients in a competitive landscape. The move also aligns with broader industry trends, where firms adapt to Europe’s evolving legal environment, including the EU’s Markets in Crypto-Assets (MiCA) framework. While Revolut’s Hungarian pause was not directly linked to MiCA, the broader context of regulatory scrutiny in Europe remains relevant [4]. The firm’s actions demonstrate operational resilience, enabling it to maintain service availability despite regulatory challenges.

The implications of this development extend beyond Revolut. By offering compliant staking services, the company may encourage broader crypto adoption in Hungary, particularly as such features become standard in the digital asset space. The emphasis on investor confidence [3] aligns with reports indicating that regulatory clarity is critical for expanding crypto markets. For Hungary, the resumption could signal a more attractive environment for crypto innovation, provided the legal framework continues to evolve in a business-friendly manner.

Revolut’s experience in Hungary illustrates the delicate balance between regulatory compliance and market strategy in the fintech sector. The temporary suspension and subsequent resumption of services underscore the need for adaptability in a sector marked by rapid regulatory changes. As crypto markets mature, firms that successfully navigate these dynamics will likely shape the competitive landscape of digital banking in Europe, particularly in jurisdictions where legal clarity is still emerging.

Source: [1] [title1] https://www.bitget.com/news/detail/12560604882733 [2] [title2] https://www.xt.com/zh-CN/blog/post/revolut-makes-crypto-staking-available-in-hungary-after-restricting-services [3] [title3] https://followin.io/feed/18933158 [4] [title4] https://www.bitget.com/news/detail/12560604882742 [5] [title5] https://www.instagram.com/p/DMkGqPGRNLW/