Revolut US to delist ADA, MATIC and SOL in September

As U.S. regulations continue to evolve, crypto-friendly neobank Revolut will next delist a number of digital assets on its U.S. platform.

A Revolut spokesperson told Cointelegraph that Revolut is preparing to fully delist tokens such as Cardano (ADA), Polygon (MATIC) and Solana (SOL) from its platform in September.

On June 29, Revolut notified its U.S. customers of the change and stated that all customers immediately stopped buying ADA, MATIC, and SOL. The representative noted that Revolut users will still be able to hold and sell the tokens until September 18.

“Any remaining tokens will be sold on your behalf at the market price at the time of the sale. We will deposit USD proceeds into your Revolut account,” the company wrote in an announcement to U.S. customers.

Revolut said the tokens are being delisted due to infrastructure developments in the United States.

“Due to the changing laws and regulations in the United States regarding cryptocurrencies, our U.S. crypto service provider has decided to delist these tokens,” Revolut said.

A spokesperson for Revolut emphasized that the company still supports ADA, MATIC and SOL in other jurisdictions outside the US, saying:

“There are no plans to delist these tokens from other markets as they are still available.”

The representative also told Cointelegraph that the number of cryptocurrencies supported by Revolut varies greatly from location to location. “The EEA plus the UK has more than 115 cryptocurrencies and the US has more than 33,” the spokesperson said.

related: Era of cryptocurrencies traded as non-securities is over, says exchange exec

Revolut is not alone in delisting the three tokens. Companies like Robinhood, eToro, and Bakkt have all delisted ADA, MATIC, and SOL over the past few weeks and stopped buying them immediately.

As previously reported, ADA, MATIC, and SOL were flagged as unregistered securities by the SEC in early June. The charges are part of two separate actions against major cryptocurrency exchanges Binance and Coinbase.

Magazine: Asia Express: Huobi Sues… Huobi? 3AC rises from the ashes, cryptocurrency spreads in South Korea