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Crypto News: Revolut Freezes Crypto Accounts in Hungary Amid Sudden Ban

2025-07-10 08:09:59

Crypto News: Revolut Freezes Crypto Accounts in Hungary Amid Sudden Ban

Main Idea

Revolut has suspended crypto services in Hungary due to regulatory changes and is working to align with EU's MiCA standards, with existing accounts remaining secure but new sign-ups paused until a MiCA license is obtained.

Key Points

1. Revolut suspended crypto services in Hungary after the Hungarian government declared crypto transactions illegal, halting all customer inquiries.

2. The suspension is due to changes in EU regulation, with Revolut aligning its standards with the Market in Crypto Assets (MiCA) framework.

3. Existing accounts remain safe and secure, but new crypto account sign-ups are paused until Revolut obtains a MiCA license.

4. Revolut’s EEA crypto asset provider and Revolut Digital Assets Europe Ltd (RDAEL) are actively working to obtain a MiCA license.

5. The suspension has caused chaos in Hungary, but Revolut is collaborating with regulators to complete the licensing process as quickly as possible.

Description

The post Crypto News: Revolut Freezes Crypto Accounts in Hungary Amid Sudden Ban appeared first on Coinpedia Fintech News British fintech giant Revolut has temporarily suspended all cryptocurrency services in Hungary after the Hungarian government declared crypto transactions illegal. The suspension, announced on July 7, has halted all crypto trading and related services for users in the country. Following the freeze of crypto accounts and investments, Hungarian Revolut users were unable to cond...

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