- Revolut has confirmed the full shutdown of all crypto services for Hungarian users
- Temporary access has been restored with a deadline of 18 December.
- Customers can sell or withdraw their locked digital assets on the platform.
Revolut has confirmed that it will completely end cryptocurrency services for Hungarian customers. This closes a turbulent chapter that began earlier this year when local rules forced the company to freeze digital assets.
While access to stored crypto has been temporarily restored, the window is narrow and comes with strict limits. Users now face mandatory decisions about selling or transferring their tokens before the December 18 deadline.
The decision marked the final withdrawal of Revolut’s crypto operations from the country.
Related: Revolut Brings Crypto Trading to 30 New European Markets with Revolut X
A Sudden Reopening Followed by a Permanent Exit
Hungarian clients regained temporary access to their cryptocurrencies this week, but Revolut made clear that this relief will not last.
The company informed users that all crypto services will cease in Hungary despite its Cyprus subsidiary obtaining a MiCA licence in October. Local regulations, however, block full reinstatement of trading.
It is important to note that in July Revolut unexpectedly froze crypto services for Hungarian accounts due to new domestic and international rules requiring additional permits.
Experts estimate that crypto worth several hundred million forints became stuck on the platform at that time.
Since 6 December, users have been allowed only two actions, i.e., transfer their tokens to an external wallet or sell them for fiat currency.
Buying new assets, staking, depositing tokens, or using “Learn & Earn” features has already been disabled. Revolut has begun automatic unstaking and will close all staking commitments by mid-December.
The final deadline is 18 December. Customers must sell or withdraw their assets by then. If they do nothing, Revolut will liquidate the holdings at the market rate and credit the balance to their account.
Government Crackdown on Digital Economy
Revolut’s departure comes as Hungary prepares for tighter control over crypto. In September, National Economy Minister Márton Nagy submitted two bills aimed at increasing tax revenue from hard-to-monitor sectors such as Airbnb rentals, courier services, gig-economy work, and crypto trading.
The legislation aligns Hungarian rules with an OECD data-sharing framework. Under an OECD data-sharing framework, platforms and crypto service providers must report detailed user information to tax authorities, who will then exchange this data internationally.
This will give the Hungarian Tax Authority (NAV) direct access to income and transaction history for residents using foreign services.
From 2026 onward, companies like Revolut, Binance, or Airbnb will need to submit user names, tax IDs, addresses, dates of birth, and transaction volumes in a standardized format.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Source: https://coinedition.com/revolut-exits-hungary-december-18-deadline-set-for-mandatory-crypto-liquidation/
