• Fintech giant Revolut is ceasing to offer Solana (SOL), Cardano (ADA), and Polygon (MATIC) tokens for customers in the US.
• The delisting of these cryptocurrencies follows after their provider, Bakkt, decided to delist them due to SEC classifying them as unregistered securities.
• Other crypto platforms such as Robinhood and eToro have also restricted US users from trading in various crypto tokens.
Fintech Giant Revolut Ceases Offering Solana, Cardano, and Polygon Tokens in the US
Revolut, a prominent UK-based fintech app, has announced that it will stop offering Solana (SOL), Cardano (ADA), and Polygon (MATIC) tokens for customers in the United States. This decision comes after its digital asset platform provider Bakkt decided to delist these cryptocurrencies amid the US Securities and Exchange Commission (SEC) categorizing them as unregistered securities.
Delisting of Crypto Tokens on September 18
The delisting of these tokens by Revolut in the US will come into effect starting September 18. Users who currently hold these tokens will have until that date to sell them, Bloomberg reported citing an email sent to customers. After September 18, US customers will no longer be able to buy, sell or hold these tokens within their Revolut accounts.
Other Crypto Platforms Delist SOL ADA & MATIC
Apart from Revolut, other crypto platforms such as Robinhood and eToro have also restricted US users from trading in various crypto tokens including Algorand, Decentraland Dash and Polygon. This move followed after the SEC took action against two major digital asset trading platforms namely Binance – the world’s largest cryptocurrency exchange – and Coinbase – the largest US-based cryptocurrency exchange – filing 13 charges against Binance and its US affiliates ranging from allegedly operating as an unregistered exchange to offering unregistered securities against Coinbase for operating as an exchange without registration among other violations..
Revolut is a self-described “financial super app” that has been aggressively expanding into digital assets over the past few years. Currently it allows users to buy sell trade more than 80 different cryptocurrencies including popular token like Bitcoin Ethereum etc.
In conclusion we can see that multiple platforms have taken steps towards delisting certain cryptocurrencies amidst action taken by SEC against exchanges which violate regulations related registered securities .