In an email sent to US-based users on June 28, British fintech company Revolut announced that it was ending support for three major cryptocurrencies.
The company said US users will not be able to purchase Cardano (ADA), Polygon (MATIC) and Solana (SOL) through its app, effective immediately.
At a later, unspecified date, users will no longer be able to hold or sell these cryptocurrencies. After this date, Revolut will automatically sell the tokens and deposit the cash equivalent into each user’s Revolut account.
The delisting affects only a small portion of the parts supported by the company. Revolut currently supports over 80 tokens, according to its website.
Currently, the new policy applies to users of the US Revolut app. The company is primarily a UK service, but has recently expanded into the US and elsewhere.
Delisting follows high-profile SEC cases
Revolut said it is delisting the above assets due to changing laws and regulations in the United States. While the company did not specifically identify ongoing Security and Exchange Commission cases against Coinbase and Binance, both of these cases name ADA, MATIC, and SOL as securities. .
Other crypto exchanges and platforms have taken the same assets off the list in recent weeks. Robinhood announced that it would be removing ADA, MATIC, and SOL on June 9, while Bakkt announced that it would be removing these coins on June 16.
Revolut did not provide further comment on its decision, but did provide CryptoSlate with a copy of the email he sent to his customers.
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