Digital bank Revolut resumes cryptocurrency staking services in Hungary

ChainCatcher reports that digital bank Revolut has announced the resumption of its cryptocurrency staking services in Hungary. Previously, the company had suspended most digital asset services on July 7 due to uncertainties surrounding new Hungarian legislation.

The new law, which took effect in Hungary on July 1, imposes severe penalties for the use of unlicensed cryptocurrency exchanges, with retail users facing up to five years in prison and service providers up to eight years. After a legal review, Revolut determined that staking services do not fall under the definition of "cryptocurrency trading activities" as outlined in the law.