Revolut brings back key feature to its app in Hungary after 5-month block
Hungarian Revolut users can once again sell their previously frozen cryptocurrency holdings, marking the first major easing of restrictions since the company suspended most of its crypto services in the country this summer. Although the option to sell is now restored on both Revolut and the Revolut X trading platform, users are still unable to purchase new tokens.
Five months of frozen funds
In early July, Revolut abruptly halted crypto services for Hungarian customers after new domestic regulations came into force, requiring a dedicated licence for cryptocurrency trading. Initially, users could still sell their existing tokens, but this option was quickly withdrawn as the company tightened restrictions.
While transfers to external wallets remained possible for certain major cryptocurrencies, many smaller tokens were fully locked. According to fintech expert Ádám Kovács, who surveyed 600 users over the summer, the value of frozen Hungarian-held crypto assets likely reached hundreds of millions of forints.
EU licence obtained, but Hungary still left out
On 23 October, Revolut announced that its Cypriot subsidiary, Revolut Digital Assets Europe Ltd., had obtained a MiCA licence from the Cyprus Securities and Exchange Commission. This approval enables the company to operate crypto services in line with EU regulations across all 30 EEA countries.
Several European markets saw crypto trading resume in late October, but Hungary remained excluded, suggesting that local regulatory processes were still unresolved.
December brings partial relief
The breakthrough for Hungarian users arrived on 6 December, when Revolut quietly reactivated the option to sell previously held tokens. The company also confirmed that crypto withdrawals to external wallets remain available.
The change offers long-awaited relief to customers whose assets have been stuck for months, particularly as global crypto markets have cooled significantly since their summer highs, leaving many investors facing losses they were unable to avoid.
However, the key restriction remains: the purchase of new cryptocurrency is still prohibited for Hungarian customers. Industry observers say this indicates that not all regulatory requirements have been fully settled behind the scenes.
More changes ahead for Hungarian customers
Beyond crypto services, Revolut is preparing another major step in its Hungarian expansion. After receiving the necessary approvals on 23 October, the company is set to launch its Hungarian banking branch, meaning that, in the near future, nearly two million local customers may even receive their salaries directly into a domestic Revolut account.