1 year ago
Digital slope Revolut is suspending entree to cryptocurrencies done its level for U.S. customers citing an uncertain regulatory environment, the level confirmed to CoinDesk.
U.S. customers volition not beryllium capable to bargain crypto via Revolut starting Sept. 2 but tin proceed to merchantability for 30 much days earlier entree to crypto is afloat disabled, according to a missive sent by the slope to section clients.
The level said it took the "difficult decision" with its U.S. banking spouse due to the fact that of an "evolving regulatory environment" successful the country. Regulators there, led by the Securities and Exchange Commission, person been cracking down connected crypto, targeting speech platforms similar Coinbase (COIN) and Binance, arsenic good arsenic a big of idiosyncratic tokens including Solana' SOL and Polygon' MATIC, alleging violations of national laws.
"This determination has not been taken lightly, and we recognize the disappointment this whitethorn cause. This suspension does not impact Revolut users extracurricular of the U.S. successful immoderate way, and impacts little than 1% of Revolut’s crypto customers globally. Revolut customers successful each different markets tin proceed to motion up and bask utilizing our crypto services," a spokesperson for Revolut said successful an email to CoinDesk.
The London-headquartered Revolut, which has astir 25 cardinal customers worldwide, offers a scope of crypto services including trading and staking successful aggregate – chiefly European – jurisdictions.
"Revolut is actively pursuing alternate means of providing entree to crypto products and we anticipation to connection crypto successful the U.S. again successful the future," a spokesperson for the slope told Decrypt.
Edited by Parikshit Mishra.
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