Revolut Resumes Cryptocurrency Staking Service in Hungary

BlockBeats News, July 28th, digital bank Revolut announced the resumption of cryptocurrency staking services in Hungary. Previously, the company suspended most of its digital asset services on July 7th due to the uncertainty of Hungary's new law.

Hungary's new law, which came into effect on July 1st, imposes severe penalties on unlicensed cryptocurrency exchanges, with retail users facing up to 5 years in prison and service providers facing up to 8 years in prison. After a legal review, Revolut determined that staking services do not fall under the law's definition of "cryptocurrency exchange activities."