Revolut Joins Bakkt, Robinhood, and Etoro in Delisting Specific Crypto Assets
Revolut, a London-based neobanking company, has announced that it will be delisting polygon (MATIC), solana (SOL), and cardano (ADA) from its platform. This decision comes as a result of changing laws and regulations surrounding cryptocurrency in the United States. Revolut’s partner, Bakkt, also made the decision to delist these tokens.
Key Points:
– Revolut is delisting polygon (MATIC), solana (SOL), and cardano (ADA) from its platform.
– The decision is due to changing laws and regulations around cryptocurrency in the United States.
– Bakkt, Robinhood, and Etoro have also delisted these tokens.
– The U.S. Securities and Exchange Commission (SEC) crackdown on exchanges has categorized these tokens as unregistered securities.
– Revolut customers in the U.S. have until September 18th to trade these tokens before they are liquidated into U.S. dollars.
Revolut customers in the United States will no longer be able to purchase these tokens and have until September 18th to trade them. If the tokens are not sold by the deadline, they will be converted into U.S. dollars at the prevailing exchange rate. This move by Revolut follows a trend among other major platforms and exchanges to delist certain crypto assets due to regulatory concerns.
Hot Take:
Revolut’s decision to delist these tokens highlights the challenges faced by cryptocurrency platforms in navigating evolving regulations. As regulatory scrutiny increases, platforms are forced to make difficult choices to ensure compliance and protect their customers. This move could potentially impact the availability and accessibility of these tokens for U.S. users, signaling a shift in the cryptocurrency landscape.
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