Revolut delists Cardano, Polygon, and Solana in US market

CryptoSlate
CryptoSlate

29 Jun 2023 9:45 PM

Revolut said that it will delist three major cryptocurrencies in an email sent to U.S.-based users on June 28....

  • Revolut, a U.K. fintech firm, has announced that it is ending support for three major cryptocurrencies - Cardano (ADA), Polygon (MATIC), and Solana (SOL) - for its U.S.-based users.
  • U.S. users will no longer be able to buy these cryptocurrencies through the Revolut app, effective immediately.
  • At a later date, users will also not be able to hold or sell these cryptocurrencies. Revolut will automatically sell the tokens and deposit the equivalent cash into each user's Revolut account.
  • The delisting only affects a small portion of the company's supported coins, as Revolut currently supports more than 80 tokens.
  • This decision is a result of changing laws and regulations in the U.S., possibly influenced by ongoing SEC cases against Coinbase and Binance, which involve ADA, MATIC, and SOL as securities.
  • Other exchanges and crypto platforms, such as Robinhood and Bakkt, have also delisted these assets recently.

The sentiment of the article is negative, as it highlights the delisting of three major cryptocurrencies by Revolut for its U.S. users due to changing laws and regulations.

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You May Ask

Which cryptocurrencies are being delisted by Revolut for its U.S. users?What actions will Revolut take for users holding these delisted cryptocurrencies?How many tokens does Revolut currently support?Why is Revolut delisting these specific cryptocurrencies?Which other exchanges and crypto platforms have recently delisted the same assets?

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