2023-08-06 04:11:51
Revolut backs down from the SEC’s anti-crypto campaign and voluntarily suspends cryptocurrency services in the USA as a preventive measure. The change does not affect Hungarian users. Cryptocurrency-friendly trading neobank Revolut is shutting down its cryptocurrency-related services in the United States amid ongoing regulatory uncertainty. The announcement of the complete shutdown was made following Revolut had previously limited the range of tradable instruments – Cardano, Polygon (MATIC) and Solana also fell into this restriction. At the time of the announcement, approx. 30 cryptos were still tradable on the platform. According to the information, Revolut is working together with its American bank partner to first suspend cryptocurrency trading from September 2, and then completely stop cryptocurrency trading from October 3. A spokesperson summed it up to Cointelegraph: “Access to cryptocurrencies will be completely blocked in the US through Revolut. US customers will no longer be able to buy, sell, or hold cryptocurrencies on our app.” A Revolut representative emphasized that leaving the US market affects only 1 percent of the company’s global crypto customers and does not affect other markets. No other US services are planned to be shut down in the future. “We did not make this decision easily, and we understand that it may disappoint some people,” noted the spokesperson, and stated that the company’s customer service will provide full information to the affected customers, and customers can always contact the customer service with their questions at through a mobile application. Revolut isn’t the only big company struggling with US regulatory uncertainty. Crypto.com, one of the largest American crypto exchanges, announced in mid-June that it will suspend its services to institutional clients registered in the United States.
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