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Crypto-friendly neobank Revolut will soon delist a batch of digital assets on its platform in the United States amid ongoing legal changes in the country.
Revolut is preparing to completely eliminate tokens like Cardano (ADA), Polygon (MATIC), and Solana (SOL) from its platform in September, a firm spokesperson told Cointelegraph.
On June 29, Revolut notified its US customers of the change, stating that the purchase of ADA, MATIC, and SOL is closed to all customers immediately. According to the spokesperson, Revolut users will still be able to hold and sell these tokens until September 18th.
“All remaining tokens will be sold on your behalf at the market price at the time of the sale. We will transfer the proceeds in dollars to your Revolut account,” the firm wrote in an announcement to US customers.
Revolut stated that the tokens are being delisted due to the development of its infrastructure in the US.
“Our U.S. cryptocurrency service provider has decided to delist these tokens due to changing laws and regulations regarding cryptocurrencies in the United States,” Revolut said.
A Revolut spokesperson emphasized that the firm continues to support ADA, MATIC, and SOL in jurisdictions other than the US, stating:
“There are no plans to delist these tokens in other markets where they remain available.”
The spokesperson also told Cointelegraph that the number of supported cryptocurrencies on Revolut varies greatly by location. “The European Economic Area plus the UK has over 115 cryptocurrencies and the US has over 90,” the spokesperson said.
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Revolut is not alone in delegating these three tokens. Companies such as Robinhood, eToro and Bakkt have announced delistings from ADA, MATIC and SOL over the past few weeks, immediately suspending purchases.
As previously reported, ADA, MATIC and SOL were marked as unregistered securities by the US Securities and Exchange Commission in early June. The accusations were made as part of two separate actions against major cryptocurrency exchanges, Binance and Coinbase.