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Crypto Neobank Revolut Announces Delisting of SOL, MATIC and ADA

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Crypto Neobank Revolut Announces Delisting of SOL, MATIC and ADA

Crypto Neobank Revolut Announces Delisting of SOL, MATIC and ADA

  • Customers may continue to store and trade these tokens until September 18.
  • U.S. SEC had classified ADA, MATIC, and SOL as unregistered securities.

In light of recent regulatory changes in the U.S., crypto-friendly neobank Revolut will soon be delisting a number of digital assets from its platform. The Revolut team informed that the company plans to permanently remove tokens such as Cardano, Polygon, and Solana from its platform in the month of September.

On June 29th, Revolut informed its American users of the move, saying that they will be unable to purchase ADA, MATIC, or SOL going forward. The spokesperson from Revolut emphasized that customers may continue to store and trade these tokens until September 18.

The firm made an announcement to U.S. customers:

“Any remaining tokens will be sold on your behalf using the market price at the time of sale. We’ll deposit the USD proceeds into your Revolut account.”

Compliance With SEC

In other countries outside the United States, Revolut continues to support the ADA, MATIC, and SOL, according to a company representative. The spokesman said that Revolut’s cryptocurrency support varies greatly by country.

The firm stated:

“Our U.S. crypto services provider has decided to delist these tokens due to the changing laws and regulations around cryptocurrency in the United States.”

It’s not only Revolut that’s delisting these three coins. In the last few weeks, many major exchanges and trading platforms, including Robinhood, eToro, and Bakkt, have announced the delisting of ADA, MATIC, and SOL, thereby suspending all purchases.

Earlier last month, it was revealed that the U.S. Securities and Exchange Commission (SEC) had classified ADA, MATIC, and SOL as unregistered securities.

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