Revolut to Close U.S. Crypto Platform
Revolut, the digital bank, has announced that it will be closing its U.S. crypto platform due to regulatory uncertainties. Starting from October 3rd, U.S. customers will no longer be able to access cryptocurrencies through the Revolut app. The decision was made in collaboration with the bank’s local banking partner and comes as regulators in the U.S., such as the Securities and Exchange Commission, have been cracking down on crypto-related activities.
Key Points:
– Revolut is closing its U.S. crypto platform due to regulatory uncertainties.
– U.S. customers will no longer be able to buy crypto via Revolut starting September 2nd.
– The decision was made in collaboration with the bank’s local banking partner.
– Regulators in the U.S. have been targeting exchange platforms and individual tokens, alleging violations of federal laws.
– Revolut is actively seeking alternative means to provide access to crypto products in the U.S.
Revolut’s decision to close its U.S. crypto platform is a response to the increasing regulatory scrutiny faced by the crypto industry in the country. While this may disappoint U.S. customers, Revolut is actively exploring ways to reintroduce crypto services in the future.
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