Revolut is halting purchases of Cardano, Polygon and Solana for US Customers and Making Plans to Delist Them.
Revolut, a cryptocurrency-friendly neobank, will delist several digital assets from its U.S. platform in response to ongoing regulatory developments in the country.
In September, Revolut plans to completely remove tokens such as Cardano, Polygon, and Solana from its platform, according to a spokesperson.
On June 29, Revolut informed its U.S. customers about the change, stating that buying ADA, MATIC, and SOL is now closed for all customers. However, customers can still hold and sell these tokens until September 18.
Revolut will sell any remaining tokens on behalf of customers at the market price and deposit the proceeds in their Revolut accounts, according to the announcement.
Revolut attributed the delisting of tokens to changes in its U.S. infrastructure caused by evolving laws and regulations surrounding cryptocurrency.
The spokesperson emphasized that Revolut continues to support ADA, MATIC, and SOL in other markets outside the United States.
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Revolut’s range of supported cryptocurrencies varies across locations, with over 115 cryptocurrencies available in the European Economic Area and the United Kingdom, and over 33 in the United States.
Other companies, including Robinhood, eToro, and Bakkt, have also announced delistings of ADA, MATIC, and SOL, putting a halt to purchases.
ADA, MATIC, and SOL were classified as unregistered securities by the U.S. Securities and Exchange Commission in early June, following actions against Binance and Coinbase, major cryptocurrency exchanges.