Revolut has partially resumed its cryptocurrency services in Hungary following a regulatory pause.
Resumption of Crypto Services
Revolut has restored some cryptocurrency services in Hungary, allowing users to withdraw funds from wallets and access staking rewards. However, new token purchases and deposits remain prohibited.
Impact on Users
Revolut users can now access staking rewards and withdraw previously held tokens to external wallets. As stated by the Director of Customer Communications, "You can now access your staking rewards and withdraw previously held tokens to external wallets. Buying, selling, and receiving new crypto deposits remains unavailable."
Future Prospects
The resumption of certain services indicates Revolut's compliance with Hungary's new strict regulatory norms. This may lead to better integration of the company within the country's regulatory environment, potentially setting the stage for future expansion under new EU laws.
Revolut's resumption of crypto services in Hungary reflects the company's commitment to complying with new regulatory requirements, which may herald new opportunities moving forward.
