Digital bank Revolut resumes cryptocurrency staking services in Hungary

ChainCatcher news, digital bank Revolut announced the resumption of cryptocurrency staking services in Hungary. The company had previously suspended most digital asset services on July 7 due to uncertainties surrounding new laws in Hungary.

The new law, which took effect on July 1 in Hungary, imposes severe penalties for the use of unlicensed cryptocurrency exchanges, with retail users facing up to 5 years in prison and service providers facing up to 8 years. After a legal review, Revolut determined that staking services do not fall under the definition of "cryptocurrency trading activities" as defined by the law. (finance feeds)