Revolut, the cryptocurrency-friendly neobank, has made the decision to delist certain digital assets from its platform in the United States, citing ongoing regulatory developments in the country. Among the tokens to be delisted are Cardano (ADA), Polygon (MATIC), and Solana (SOL). The spokesperson for Revolut confirmed this decision to Cointelegraph, stating that the tokens will be removed from the platform in September.
Revolut has already notified its U.S. customers about the impending delisting, with immediate closure of buying options for ADA, MATIC, and SOL. However, users will still be able to hold and sell these tokens until September 18. Any remaining tokens will be sold on behalf of the customers at the market price, with the proceeds deposited into their Revolut accounts.
The delisting of these tokens is attributed to changes in Revolut’s U.S. infrastructure, prompted by the evolving laws and regulations surrounding cryptocurrency in the United States. It is important to note that Revolut continues to support ADA, MATIC, and SOL in other jurisdictions outside the United States, and there are no plans to delist these tokens in those markets where they remain available.
A spokesperson for Revolut highlighted the disparity in the number of supported cryptocurrencies across different regions. While the European Economic Area and the United Kingdom have access to over 115 cryptocurrencies, the United States offers over 33. This indicates that the availability of cryptocurrencies on Revolut’s platform may vary depending on the customer’s location.
Revolut is not the only company delisting these three tokens, as other major platforms like Robinhood, eToro, and Bakkt have also announced similar delistings in recent weeks, promptly ceasing purchases of ADA, MATIC, and SOL.
In early June, the U.S. Securities and Exchange Commission labeled ADA, MATIC, and SOL as unregistered securities, following separate actions taken against prominent cryptocurrency exchanges, Binance and Coinbase. These regulatory actions have resulted in several platforms taking precautionary measures to comply with the evolving regulatory landscape in the United States.
Get $200 Free Bitcoins every hour! No Deposit No Credit Card required. Sign Up