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 Initially, users could still sell their existing tokens, but this option was quickly withdrawn as the company tightened restrictions.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.