UK fintech firm Revolut has announced that, starting September 2nd, their US customers will no longer be able to purchase cryptocurrencies due to the US regulatory environment. All US users will still be able to sell their crypto assets until October 2nd.
Revolut informed their US users via email a few hours ago. The company’s spokesperson said: “As a result of the evolving regulatory environment and the uncertainties around the crypto market in the U.S., we’ve taken the difficult decision, together with our U.S. banking partner, to suspend access to cryptocurrencies through Revolut in the U.S.” Metropolitan Commercial Bank is Revolut’s banking partner in the United States.
However, this decision does not affect Revolut’s users outside the United States. They will still be able to register and use Revolut’s cryptocurrency services.
This comes shortly after Revolut delisted Polygon (MATIC), Solana (SOL) and Cardano (ADA) in the United States due to them being regarded as unregistered securities by the U.S. Securities and Exchange Commission (SEC).
US users who fail to sell their crypto holdings before October 2nd will have their assets liquidated on October 3rd. The company will provide them with the same market price for each token at that time.
