• Revolut, a cryptocurrency-friendly neobank, will be suspending all cryptocurrency services for users in the U.S. starting September 2nd and completely disabling them on October 3rd.
• This decision will affect 1% of their global user base and has been taken due to ongoing regulatory uncertainty in the U.S.
• Crypto customers in the U.S. can expect communication from Revolut soon, with their support team available via the app chat to answer any questions or concerns regarding the suspension.
Revolut Suspending Cryptocurrency Services in US
Revolut, a cryptocurrency-friendly trading neobank, is suspending crypto services for its US customers amidst ongoing regulatory uncertainty in the country. The suspension of these services will affect 1% of the firm’s total global user base and is scheduled to begin on September 2nd and finish on October 3rd. US crypto customers can expect email communication from Revolut soon about this change, with dedicated support available through their app chat should they have questions or concerns.
Delisting of Certain Digital Assets
In late June, Revolut US announced the delisting of certain digital assets from its platform including Cardano’s ADA (ADA), Polygon’s MATIC (MATIC) and Solana’s SOL (SOL). The company had planned to proceed with these delistings in September; however they decided instead to suspend all crypto services for US users entirely due to continuing regulatory uncertainty surrounding cryptocurrencies in the United States.
Continued Non-Crypto Operations
The representative for online bank Revolut emphasized that while they are suspending access to crypto through their platform, they will continue operations with their non-crypto business within America. They noted that this decision was not taken lightly and understand how disappointing it may be for customers who were hoping to use their cryptocurrency services through Revolut within the U.S..
Similar Struggles Among Major Crypto Services
Other major crypto service providers have also been struggling recently when it comes to providing access within America – such as Coinbase pausing staking services across four states following directives from regulators – as well as Crypto.com ceasing institutional service provision within America back in mid-June due to similar uncertain regulation issues when it comes to cryptocurrencies operating within America at present time .
It seems that despite continued growth of digital currencies globally, there remain significant obstacles when it comes to providing these types of services within certain markets such as America – meaning firms like Revolut must take measures such as suspending operations until more clarity can be provided by regulators around operating frameworks so that those who wish use cryptocurrencies safely can do so without violating any regulations set forth by authorities .