British fintech company Revolut announced in an email sent to US-based users on June 28 that it will end support for three major cryptocurrencies.
The company announced that US users will no longer be able to purchase Cardano (ADA), Polygon (MATIC) and Solana (SOL) through its app, effective immediately.
At a later date, on an unspecified date, users will no longer be able to hold or sell their cryptocurrencies. After that date, Revolut will automatically sell the tokens and credit the equivalent cash to each user’s Revolut account.
The delisting will only affect a small percentage of the coins the company supports. According to their website, Revolut currently supports over 80 tokens.
The new policy currently applies to users of the Revolut app in the United States. The company primarily operates in the UK, but has recently expanded to include the US as well.
Delisted after high-profile SEC scandal
Revolut has announced that it will delist the above assets due to changes in U.S. laws and regulations.The company has not specifically identified the ongoing Securities and Exchange Commission lawsuits against Coinbase and Binance. All of those lawsuits list ADA, MATIC, and SOL as securities.
Other exchanges and crypto platforms have also delisted the same assets in recent weeks. Robinhood announced on June 9 that it would delist ADA, MATIC and SOL, while Bakkt announced that it would delist these coins on June 16.
Revolut did not comment further on the decision, but said: crypto slate Attach a copy of the email sent to the customer.
An article about Revolut’s delisting of Cardano, Polygon and Solana from the US market first appeared on CryptoSlate.