In light of recent regulatory changes in the United States, crypto-friendly neobank Revolut will soon remove several digital assets from its platform. The Revolut team reported that the company plans to permanently remove tokens like Cardano, Polygon, and Solana from its platform in September.
On June 29, Revolut informed its US users of this measure, stating that they will not be able to purchase ADA, MATIC or SOL in the future. The Revolut spokesperson emphasized that customers will be able to continue storing and trading these tokens until September 18.
The company made an announcement for customers in the United States:
“The remaining tokens will be sold on your behalf using the market price at the time of sale. We will deposit the USD earnings into your Revolut account.”
SEC Compliance
In other countries outside of the United States, Revolut continues to support ADA, MATIC, and SOL, according to a company representative. The spokesperson stated that Revolut’s cryptocurrency support varies considerably by country.
The company stated:
“Our US cryptocurrency service provider has decided to remove these tokens due to changes in US cryptocurrency laws and regulations.”
It’s not just Revolut that is deleting these three tokens. In recent weeks, many major exchanges and trading platforms, including Robinhood, eToro, and Bakkt, have announced the removal of ADA, MATIC, and SOL, thus suspending all buying.
Early last month, it was revealed that the US Securities and Exchange Commission (SEC) had classified ADA, MATIC and SOL as unregistered securities.
