Revolut to Delist Polygon, Solana, and Cardano in the US
Revolut, a crypto-friendly neobank, will be delisting Polygon (MATIC), Solana (SOL), and Cardano (ADA) tokens from its trading platform in the United States. This decision comes as a result of changing laws and regulations around cryptocurrency in the US. Users will no longer be able to buy these tokens and will have to sell their existing holdings before September 18.
Key Points:
– Revolut’s US users will no longer be able to buy or hold MATIC, SOL, and ADA tokens.
– The delisting is due to changing laws and regulations in the US.
– Revolut’s decision is influenced by its US crypto services provider, Bakkt, which also delisted these tokens.
– Other platforms such as Robinhood and eToro have also stopped trading these tokens.
– The US Securities and Exchange Commission’s lawsuits against Binance and Coinbase played a role in these delistings.
Revolut will sell any remaining tokens on behalf of its customers if they don’t sell by September 18. However, there are no plans to delist these tokens in other markets where they remain available.
Hot Take: Revolut Follows Suit in Delisting MATIC, SOL, and ADA
Revolut’s decision to delist Polygon, Solana, and Cardano tokens in the US is not surprising given the recent actions by other platforms and the regulatory pressure surrounding these assets. This move highlights the increasing scrutiny from regulators and the need for companies to comply with evolving crypto regulations. While it may inconvenience some users, it ultimately aims to ensure compliance and protect investors in the US market.
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