Revolut has reinstated crypto staking services for users in Hungary, weeks after suspending most of its digital asset offerings in response to newly enacted national legislation. The move, announced on July 25, marks a cautious return to crypto functionality in a country that recently introduced one of the EU’s strictest regulatory frameworks for digital asset platforms.
The company had halted crypto services on July 7 amid legal uncertainty following Hungary’s new law, which criminalizes the use of unlicensed crypto exchanges and introduces penalties of up to five years in prison for retail users and eight years for service providers. After conducting a legal review, Revolut determined that staking services do not fall under the definition of “crypto exchange activity” outlined in the statute, allowing for their limited reactivation.
This decision reflects a strategic pivot by Revolut, which is seeking to maintain a presence in Hungary’s rapidly evolving regulatory environment while minimizing legal exposure. By focusing on staking — which involves validating blockchain transactions in exchange for rewards rather than trading — the company aims to continue engaging crypto users in a legally compliant manner.
Hungarian Revolut users can once again stake supported proof-of-stake cryptocurrencies such as Ethereum, Solana, and Cardano directly through the app. They are also able to earn and withdraw staking rewards or end staking at any time without penalty.
However, critical crypto functions remain restricted. Users are still unable to buy or sell new cryptocurrencies, make crypto deposits, or open new crypto-enabled accounts. Existing balances may be withdrawn to external wallets, but no new inflows are permitted. These limitations are expected to remain in place until Revolut secures licensing under the EU’s Markets in Crypto-Assets (MiCA) regulation.
Hungary’s crypto law, which took effect on July 1, introduced some of the harshest penalties in the European Union for unlicensed digital asset activity. The law mandates that platforms must obtain local authorization, even if they already operate under EU-wide frameworks. This has created significant compliance uncertainty for global platforms like Revolut, which had to swiftly pause services in response.
Revolut’s legal team concluded that staking does not qualify as a trading function and therefore falls outside the scope of the law. This interpretation has not been publicly challenged by Hungarian regulators, suggesting tacit acceptance or at least a grey area that platforms may cautiously operate within.
Revolut continues to pursue full MiCA authorization, which is expected to provide clarity and uniformity across EU member states once fully implemented. Until then, the company is likely to maintain a fragmented service model, tailoring its crypto offerings to comply with national laws.
The reinstatement of staking in Hungary may serve as a blueprint for how crypto platforms can adapt to strict regulatory climates without fully exiting the market. As the European crypto regulatory landscape continues to shift, Revolut’s Hungary playbook may be closely watched by both industry players and policymakers alike.
