Revolut, the London-based crypto-friendly bank, has announced that it will delist Cardano (ADA), Polygon (MATIC), and Solana (SOL) from its platform in the United States. In an email notice sent to US customers, Revolut cited the prevailing regulatory environment in the country as the reason behind the decision. The move comes as the US Securities and Exchange Commission (SEC) has been increasing its regulatory crackdown on various crypto platforms, as seen in recent lawsuits against Binance and Coinbase.
Revolut’s US partner, Bakkt, made the decision to delist ADA, MATIC, and SOL following the SEC’s allegations that these tokens and others were securities. The publicly-listed crypto custodian confirmed the delistings in June. Revolut has advised its US-based customers to sell their holdings of these cryptocurrencies on the app before September 18. Any remaining unsold assets will be liquidated, and the proceeds will be deposited into users’ fiat accounts.
It is important to note that the delisting only applies to customers in the United States, and support for these tokens will continue in other markets. Other platforms, including Robinhood and eToro, have also taken steps to remove certain crypto tokens from their offerings.
