2 years ago
According to a study published connected Monday, the British fintech steadfast Revolut plans to delist the cryptocurrency assets polygon, solana, and cardano from its U.S.-based platform. Revolut cited evolving regulations successful the United States, and users volition request to merchantability the 3 tokens by September 18th.
Revolut Joins Bakkt, Robinhood, and Etoro successful Delisting Specific Crypto Assets
Revolut is joining the ranks of Bakkt, Robinhood, and Etoro arsenic it plans to delist polygon (MATIC), solana (SOL), and cardano (ADA), according to a report by Yogita Khatri from The Block. The study reveals that Revolut sent an email to its U.S. customers, stating that the determination was prompted by “changing laws and regulations astir cryptocurrency successful the [United States].”
Revolut, based successful London, United Kingdom, was founded connected July 1, 2015, by Nikolay Storonsky and Vlad Yatsenko. Over the past 8 years, the company’s neobanking concern has grown significantly, with a beingness successful North America, Europe, and the Asia-Pacific region. As per Khatri’s report, Revolut informed the work that 1 of the reasons for delisting the coins is the determination by Revolut’s partner, Bakkt, to delist the tokens.
Since the U.S. Securities and Exchange Commission (SEC) crackdown connected exchanges specified arsenic Bittrex, Coinbase, and Binance, galore crypto assets person been categorized arsenic unregistered securities by the regulatory agency. MATIC, SOL, and ADA person been implicated successful the SEC lawsuits and person been designated arsenic concern contracts. In effect to the lawsuits, Robinhood, Etoro, and Bakkt person each removed aggregate crypto assets from their platforms, citing U.S. regulations arsenic the crushed for the decision.
The study besides states that Revolut customers successful the U.S. are present incapable to acquisition these tokens, and they person until September 18th to commercialized them. According to the email reviewed by Khatri, if the delisted crypto assets are not sold by that deadline, they volition beryllium liquidated astatine the prevailing speech complaint connected that day, converting them into U.S. dollars.
What are your thoughts connected Revolut’s determination to delist polygon, solana, and cardano? Do you judge evolving regulations successful the United States are impacting the crypto manufacture positively oregon negatively? Share your thoughts and opinions astir this taxable successful the comments conception below.
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