Revolut, the crypto-friendly neobank, recently made an announcement that it will be delisting Polygon (MATIC), Solana (SOL), and Cardano (ADA) tokens in the United States by September. This decision comes as a response to the evolving laws and regulations surrounding cryptocurrencies in the US. Although the delisting affects only a small portion of the coins supported by Revolut, it is an important development for crypto enthusiasts and investors.
Delisting and Regulatory Changes
Revolut’s decision to delist Polygon (MATIC), Solana (SOL), and Cardano (ADA) tokens in the US stems from the shifting landscape of cryptocurrency regulations. As governments worldwide grapple with the challenges posed by digital currencies, regulatory frameworks are constantly evolving. In order to comply with these changes and maintain a secure and compliant platform for their customers, Revolut has chosen to delist these particular tokens.
Impact on Revolut’s Supported Coins
While the delisting of these tokens is significant, it’s important to note that Revolut still supports a wide range of over 80 other tokens. Therefore, the impact of this decision on Revolut’s overall offering remains relatively limited. Customers who hold Polygon (MATIC), Solana (SOL), and Cardano (ADA) tokens will still be able to retain and sell them on the platform. However, the purchase of these tokens has been temporarily suspended until further notice.
Conclusion
In conclusion, Revolut’s decision to delist Polygon (MATIC), Solana (SOL), and Cardano (ADA) tokens in the US is a direct response to the changing landscape of cryptocurrency regulations. By proactively adapting to the evolving regulatory environment, Revolut aims to provide a secure and compliant platform for its customers. While this delisting affects only a small portion of the company’s supported coins, Revolut remains committed to offering a wide range of tokens to its users.
