In its actions against Coinbase and Binance, the SEC classified such assets as securities.
The U.K.-based fintech company Revolut informed its American customers via email on June 28 that it would no longer accept three of the most popular cryptocurrencies.
As of immediately, the business said that its app would no longer facilitate the purchase of Cardano (ADA), Polygon (MATIC), or Solano (SOL) by customers located in the United States.
Users will lose the ability to keep or trade those coins at a later, as yet unannounced, date. After that time, Revolut will sell the tokens automatically and credit the proceeds to the user’s Revolut account.
The delisting will affect only a subset of the company’s supported currencies. Revolut’s website claims to be compatible with more than 80 different tokens now.
Users of the Revolut app in the United States are now subject to the new rules. The firm initially served just the United Kingdom but has now extended to other countries.
Since the rules and regulations in the United States have changed, Revolut has decided to delist the aforementioned assets. The business did not mention the ongoing SEC charges against Coinbase and Binance; nonetheless, ADA, MATIC, and SOL are listed as securities in each instance.
Similar assets have recently been delisted from other exchanges and cryptocurrency platforms. Both Robinhood and Bakkt have indicated that they would be delisting ADA, MATIC, and SOL in the near future; Robinhood on June 9 and Bakkt on June 16.
A copy of the email issued to consumers by Revolut was shared with CryptoSlate; however, the company declined to comment more on its decision.
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