Revolut is advising its US customers to sell their holdings of three major cryptocurrencies before September 18th, as the crypto-friendly bank is taking the step to delist Cardano (ADA), Polygon (MATIC) and Solana (SOL). This follows its US-based partner Bakkt’s delistings of the same tokens in mid-June.
The London-based firm’s decision to delist the tokens is a response to the prevailing regulatory environment in the US, which has seen the US Securities and Exchange Commission (SEC) up its regulatory crackdown on multiple crypto platforms. Last month’s lawsuits against Binance and Coinbase highlighted the tough regulatory landscape crypto businesses faced as they continue to fight for clarity from relevant authorities.
Although these coins will no longer be available on Revolut within the US, support will still continue across other markets. Other platforms have also recently announced similar token delistings, such as Robinhood and eToro.
It’s important to note that all unsold assets will be sold and the cash deposited into users’ fiat accounts after the 18th of September. With this in mind, customers should ensure they have sold their assets before the cut-off date.
