Crypto-friendly Fintech platform, #Revolut , will stop providing crypto services to users in the United States because of the country's strict regulatory landscape.
Specifically, according to the announcement, starting September 2, Revolut customers in the US will no longer be able to place orders to buy cryptocurrencies. Users will still be able to place sell orders until October 2, and from October 3, the service will be completely closed, meaning users will not be able to buy, sell or hold any cryptocurrency. any.
“Due to the difficult regulatory landscape of the crypto market in the United States, we must have made the decision to suspend crypto services in the United States,” a Revolut spokesperson told The Block. The company's banking partner in the United States, Metropolitan Commercial Bank, also agreed with the decision.
The decision will not affect Revolut users outside of the United States and affects less than 1% of Revolut's crypto customers globally, according to the spokesperson. Revolut customers in all other markets can continue to register and use the platform's cryptocurrency service.
If US-based Revolut users do not sell their cryptocurrencies by October 2, the company will liquidate the remaining balance on October 3, and users will receive the same market price for each. token at the time, according to the email.
On July 1, rypto-friendly digital bank Revolut announced it would remove a range of digital assets from its platform in the United States due to strict regulatory actions. recently against crypto.
Specifically, it will delist tokens such as Cardano ($ADA ), Polygon ($MATIC ) and Solana ($SOL ) from its platform in September, a company spokesperson said.
Revolut is not the only company to drop these three tokens. Companies like #Robinhood , eToro , and Bakkt have all announced the removal of ADA, MATIC, and SOL in recent weeks.
