Digital banking giant Revolut is exiting the retail cryptocurrency market in Hungary, prompted by complex regulatory changes that have made compliance nearly impossible. Customers have until mid-December to sell or withdraw their crypto holdings, after which any remaining assets will be liquidated, marking a significant shift in how cryptocurrencies are managed in the country.
Service Shutdown and User Deadlines
As of December 18, 2025, Revolut will halt all retail cryptocurrency services in Hungary. Effective immediately, users are limited to liquidating their current crypto holdings for fiat currency or transferring them to external wallets. This abrupt cease of services comes as a direct response to Hungary’s evolving regulatory landscape, which has already restrained new purchases and cryptographic rewards. Revolut’s actions signal an urgent need for users to act swiftly to avoid losing their investments.
Automated processes are set into motion ahead of the final deadline; balances that are staked will be automatically unstaked by December 10, 2025. Furthermore, should users fail to liquidate their assets by the cut-off date, any remaining cryptocurrency will be sold at market price, with proceeds credited back to the users’ accounts before they are permanently closed. This stringency highlights the urgency for customers in Hungary to navigate the implications of this regulatory shift cautiously.
Root Cause: Hungary’s Stringent Crypto Laws
The mass withdrawal of Revolut from the Hungarian market can be traced back to a robust framework of new laws that exceed even the European Union’s Markets in Crypto Assets (MiCA) obligations. As of July 1, 2025, Hungary’s penal code includes severe penalties for individuals and businesses engaging in unauthorized crypto transactions, which can lead to prison terms of up to eight years for providers and five for users. This creates a daunting environment for crypto operations, leading many firms, including Revolut, to reevaluate their positions.
“Due to regulatory changes in Hungary, we are no longer able to provide crypto services,” Revolut spokesperson
The new decrees go far beyond traditional regulations, mandating significant capital reserves, insurance mandates, and compliance criteria more aligned with banking operations than those typical for fintech companies.
Broader Context and Revolut’s Position
While Revolut has secured a MiCA-compliant crypto-asset service provider license from the Cyprus Securities and Exchange Commission (CySEC), local compliance in Hungary proved too challenging. The financial technology company has maintained its crypto services across other regions within the European Economic Area (EEA) but has opted to withdraw from Hungary entirely to uphold its regulatory integrity. Simultaneously, Revolut is enhancing its traditional banking footprint in Hungary by establishing a local branch and IBAN number, allowing for greater regulatory oversight in line with local consumer protection laws.
This shift marks a pivot for Hungary, as its updated regulatory model places significant emphasis on transparency and control over crypto transactions. With comprehensive transaction reporting mandated to local authorities, the Hungarian financial landscape is rapidly evolving towards greater scrutiny. This leaves local users primarily accessing crypto through registered exchanges or authorized custodians while limiting participation in decentralized frameworks, drawing the curtain on a once-loosely regulated space.
The Future of Crypto in Hungary
As Hungary redefines its approach to cryptocurrency with stringent regulations, the long-term impact on innovation and investor protection remains uncertain. The updated regime reflects a broader trend of regulatory tightening across Europe and may push some users towards less regulated offshore services or decentralized exchanges, albeit with heightened risks involved. The key question remains: will this paradigm shift foster a safer environment for investors, or will it stifle innovation and capital inflow into the burgeoning crypto ecosystem?
As Revolut’s withdrawal exemplifies, the complex compliance landscape presents significant challenges for global players. For Hungarian users, staying informed and adapting to these changes will be critical to navigating their crypto engagements effectively in a highly regulated market. The journey ahead may be fraught with challenges, but it also presents opportunities for new models of crypto innovation to emerge.
