Well, well, well, look who’s causing a stir – it’s British fintech giant Revolut! They’ve just dropped the crypto bomb in Hungary, suspending all cryptocurrency services after the Hungarian government decided that crypto transactions are *illegal*. You know, just a little hiccup in the crypto world. This freeze, announced on July 7, has shut down crypto trading and all related services for users in Hungary. Surprise!
Imagine logging into your account and – *poof* – you can’t buy, sell, or even look at your shiny little crypto investments. That’s what happened to Revolut users in Hungary. And of course, their inboxes were flooded with customer complaints, because who doesn’t love a good financial meltdown? 🙄
Fast forward to July 9, when Revolut, in a stunning move of transparency (or, let’s face it, probably just to avoid a riot), released an update. They confirmed the freeze and reassured customers they’re keeping a watchful eye on the situation. They even promised to update us as things “unfold,” because, you know, crypto-related drama is always unfolding.
“We plan to take on new crypto customers as soon as we receive our MiCA licence. Although we can’t give an exact date yet, we’re working closely with regulators to complete the process as quickly as possible.” So, fingers crossed for an update soon! 🤞
Revolut’s Progress in MiCA License
Revolut isn’t just sitting on their hands. They’re busy working on getting their MiCA license, which is like the Holy Grail of crypto operations in the EU. Their EEA crypto asset provider and Revolut Digital Assets Europe Ltd (RDAEL) are working with Cyprus’s Securities and Exchange Commission (CySEC) to make this happen. They’re on the case, folks. If they hear anything from MiCA, you can bet your last Bitcoin that we’ll hear it too!
Final Thoughts
When Revolut first announced the freeze, chaos ensued in Hungary – and by chaos, I mean a flurry of panicked emails and Twitter rants. Industry experts jumped in with their own theories and solutions, but now that Revolut has spoken up, crypto enthusiasts and investors can breathe a sigh of relief. Well, kind of. Until the next update, at least. 🧐
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2025-07-10 11:12