Revolut Delists Cardano, Polygon, and Solana for U.S. Users
Revolut, a UK-based financial technology giant, has announced that it will delist Cardano, Polygon, and Solana for its U.S. users. Here are the key points:
– Revolut will remove the option for U.S. users to buy these cryptocurrencies and will automatically sell the tokens at a later date.
– The delisting only affects users in the United States and is in response to recent high-profile cases involving the SEC suing Binance and Coinbase.
– Revolut currently supports over 100 tokens, so the delisting has a limited impact on its portfolio.
– Other platforms, such as Bakkt and Robinhood, are also reconsidering their support for certain cryptocurrencies due to regulatory uncertainty.
– SEC Chair Gary Gensler has stated that he believes additional digital currencies are unnecessary, as traditional currencies already exist.
Revolut’s decision to delist these cryptocurrencies reflects the increasing regulatory scrutiny faced by the crypto industry in the United States. While it may disappoint some U.S. users, it is a necessary step for Revolut to comply with regulations and protect its users. The SEC’s actions have sparked a wave of delistings across various platforms, highlighting the challenges faced by the crypto industry in navigating regulatory frameworks.
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