Digital Bank Revolut’s Crypto Staking Services will be available again for Hungarian customers after a few weeks of suspension, a company spokesman told Coindesk on Friday.
The company suspended most crypto services for Hungary customers on July 7th. Because due to a new law that criminalized transactions on unlicensed crypto platforms, a spokesman told Coindesk Friday that Revolut is comfortable with boredom. It had previously resumed withdrawals, the spokesman added.
After conducting further analysis in relation to legal positions, Revolut may resume these (staking) services as only exchanges of crypto assets will be captured by amended law.”
Revolut’s Hungarian customers can now participate in staking, where participants can verify transactions on the blockchain network, earn rewards with tokens via the app, and stop staking at any time.
The company’s other crypto services are still suspended, the spokesperson added that new crypto deposits are not currently accepted, but existing deposits within the app can be sent to another wallet.
Revolut also seeks to comply with the Crypto Assets Act market, which means that companies must obtain licenses to operate across 27 blocs in at least one European Union. As of June 30, customers are unable to open new accounts in the Netherlands, Finland, Hungary, Latvia and Slovenia to comply with MICA. Revolut does not yet have a MICA license.
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