Cardano, Polygon, Solana prices undeterred despite exchange and payments company Revolut's decision

FXstreet
FXstreet

30 Jun 2023 1:29 AM

Cardano, Polygon, and Solana continue to suffer the brunt of a crackdown by the US Securities and Exchange Commission (SEC). This comes after the fina...

  • Revolut, a European exchange and payments company, has delisted Cardano, Polygon, and Solana for its US operations after the SEC labeled them securities.
  • Buying of these altcoins will cease immediately, while deadlines for selling and hodling will be communicated.
  • Despite the delisting, ADA, MATIC, and SOL have seen price increases of 3.27%, 1.55%, and 13.39% in the last day, outperforming Bitcoin and Ethereum.
  • The SEC's crackdown on Binance and Coinbase has led to regulatory actions that are driving companies away from the US and weakening consumer confidence in cryptocurrencies.
  • Other countries like the UK, Dubai, Singapore, and Hong Kong are offering more favorable environments for cryptocurrency businesses.

The sentiment of the article is mostly negative, highlighting the delisting of Cardano, Polygon, and Solana by Revolut due to regulatory actions by the SEC. However, the sentiment turns slightly positive towards the end, noting the price increases of these altcoins despite the delisting.

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You May Ask

Which altcoins did Revolut delist for its US operations?What actions will be communicated regarding selling and hodling deadlines?How have Cardano, Polygon, and Solana performed in terms of price compared to Bitcoin and Ethereum?Why are companies being driven away from the US in terms of cryptocurrency business?

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