Revolut US Announces Delisting of ADA, MATIC, and SOL Tokens Effective September

Revolut, a cryptocurrency-friendly neobank, is set to delist several digital assets from its platform in the United States as the country experiences ongoing regulatory developments. According to a spokesperson from Revolut, tokens such as ADA, MATIC, and SOL will be completely delisted from the platform in September.

Revolut informed its US customers of the upcoming change on June 29, stating that the purchase of ADA, MATIC, and SOL is immediately closed for all users. However, Revolut customers will still have the ability to hold and sell these tokens until September 18, after which any remaining tokens will be sold on their behalf at the prevailing market price. The USD proceeds from the sales will be deposited into the customers’ Revolut accounts.

The decision to delist these tokens is attributed to developments in Revolut’s US infrastructure. The neobank’s crypto services provider made the decision due to the evolving laws and regulations surrounding cryptocurrency in the United States.

While Revolut is delisting ADA, MATIC, and SOL in the US, the spokesperson clarified that the tokens will continue to be supported in other jurisdictions where Revolut operates. In those markets, the tokens will remain available for users.

It’s worth noting that several other companies, including Robinhood, eToro, and Bakkt, have also recently announced delistings of ADA, MATIC, and SOL. These actions came in response to the tokens being labeled as unregistered securities by the US Securities and Exchange Commission (SEC) in early June. The SEC’s actions were part of separate actions taken against major cryptocurrency exchanges Binance and Coinbase.

Revolut’s cryptocurrency offerings vary across different locations, with the European Economic Area and the United Kingdom supporting over 115 cryptocurrencies, while the US supports over 33, according to the Revolut spokesperson.

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