Revolut to Wind Down Crypto Services in Hungary Amid Stricter Regulation
Revolut, long regarded as a popular quasi-banking platform among Hungarian consumers, is preparing to discontinue its retail cryptocurrency services in Hungary. The move reflects a shifting regulatory landscape in which fintech firms offering crypto must now meet bank-level compliance standards.
Although Revolut is expanding its local presence with a Hungarian IBAN and a Budapest branch, the company has concluded that Hungary’s enhanced requirements under MiCA and domestic rules are too burdensome to maintain crypto operations.
Revolut’s Exit from the Hungarian Crypto Market
The company recently informed customers by email that all retail crypto services will cease on 18 December 2025. Until then, users may only sell or withdraw their existing crypto holdings; new purchases, rewards, and incoming transfers are already disabled. Staked balances will be automatically unstaked on 10 December, and any remaining positions after the deadline will be liquidated at market prices, with all crypto pockets subsequently closed.
Revolut attributed the decision directly to regulatory changes, stating:
“Due to regulatory changes in Hungary, we are no longer able to provide crypto services.”
The withdrawal is specific to Hungary. Revolut has obtained a MiCA-compliant CASP licence in Cyprus and will continue offering crypto services elsewhere in the EEA. The Hungarian exit therefore stems not from technical limitations but from local requirements that exceed EU-wide obligations.
A Strengthened Local Presence, but Heavier Obligations
The decision comes shortly after Revolut secured a Hungarian IBAN (30200014 – REVOHUHB) and established a Budapest branch at Szervita tér 8. Once operational, the IBAN will allow customers to receive salaries and use Revolut as a fully domestic banking service.
However, this expansion also places Revolut directly under the oversight of the Hungarian National Bank (MNB), making it subject to domestic consumer-protection rules, transaction taxes, and stringent AML/KYC standards. For crypto services, Hungary’s latest implementing decrees require providers to meet conditions such as:
- Minimum HUF 80 million in registered capital
- ISO 27001 certification and site-security accreditation
- Annual professional liability insurance of HUF 250 million
- Comprehensive internal controls, risk management, and IT governance frameworks
These obligations align more closely with traditional banking regulation than with typical fintech operations.
A Tighter Validation Framework for Crypto Transactions
Hungary’s updated regime introduces a highly integrated validation chain for crypto activity. Centralized exchanges must act as extended compliance arms of the banking system, providing detailed customer and transaction-level data to authorities and the MNB. This includes the origin, destination, value, and risk classification of each crypto transfer.
As a result, crypto transactions become traceable within the banking system, substantially reducing semi-anonymous usage and strengthening anti-money-laundering and counter-terrorist-financing controls.
What Options Remain for Hungarian Users?
Revolut’s exit underscores the rising regulatory risk associated with using bank-linked, centralized platforms for crypto. Going forward, Hungarian users will primarily have access through licensed EU exchanges, institutional custodians, and exchange-traded crypto ETPs. Decentralized exchanges and self-custody wallets remain technically accessible, but bank-transfer gateways are expected to face additional friction.
Hungary’s shift from a loosely governed environment to a heavily formalized model reflects a focus on transparency and control. Whether this promotes investor protection or limits innovation and capital flow remains an open question—one that both incumbent banks and future market entrants will now need to consider carefully.