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Regulatory background

Crypto assets are categorised as 'restricted mass market investments' by the British regulator.

We've made two changes to our Crypto offering:

• We changed the way we display risk warnings to make them more visible in your app to follow regulatory requirements for this asset class
• When you open your account, you'll need to complete onboarding requirements and provide some investor information on an annual basis

Account onboarding steps

• Update your Revolut app to the latest version to view important regulatory disclaimers before trading crypto assets
• Answer the investor categorisation questions
• Complete the risk assessment: You'll need to answer a few questions about crypto and pass it to continue
• Accept the investor statement and our Terms & Conditions

We'll let you know how many attempts you get to pass the assessment in-app. If you fail these attempts, you'll be given a cool-down period before you can attempt the assessment again. Once you pass it, you'll need to wait 24 hours before you can start trading crypto. You'll be able to see in-app how long you have left in the cool-down period and we'll notify you once this period is completed.

If you've previously onboarded to Crypto

If you had a crypto account open with us before 8 October 2023, you'll need to go through the above process, as the same requirements will apply to you, except for the cool-down period.

Available crypto features before completing onboarding

New and existing crypto customers can:

• View available tokens
• Complete Crypto Learn lessons
• Set watchlists
• Set price alerts
• Deposit crypto

If you're an existing crypto customer, you can also withdraw, sell, and unstake your crypto.

Annual attestation of investor details

As part of these new regulations, you'll need to review and confirm or update your investor categorisation details you provided the previous year to continue trading.

This is to take into account any potential changes in circumstances.

This process requires you to:

• Update your Revolut app to the latest version (minimum 10.59, later if available)
• Confirm your investor categorisation
• Confirm some information based on the information you provided last year

Available crypto features before completing the annual attestation:

• Sell your crypto
• Unstake your crypto
• View available tokens
• Complete Crypto Learn lessons
• Set watchlists
• Set price alerts
• Withdraw and deposit crypto

Check this FAQ to see the glossary of onboarding terms.