Revolut will discontinue its cryptocurrency services in the United States, stating concerns about the 'regulatory landscape'

Revolut, a fintech company, has announced the discontinuation of its cryptocurrency services for users in the United States. The decision is attributed to the challenging regulatory environment surrounding cryptocurrencies in the country. Starting September 2, Revolut's U.S. customers will no longer be able to place buy orders for cryptocurrencies. They will still have the option to place sell orders until October 2. After that date, the platform will be completely closed for crypto-related activities, including buying, selling, and holding cryptocurrencies. This development was first reported by Decrypt.

A spokesperson for Revolut stated that the decision was made in response to the evolving regulatory landscape and uncertainties in the U.S. crypto market. The company's U.S. banking partner, Metropolitan Commercial Bank, was involved in the decision-making process.

It's worth noting that this change will not affect Revolut users outside the United States, and less than 1% of Revolut's global crypto customers will be impacted. Customers in other markets can still access and use the platform's crypto services without any disruption.

This decision comes shortly after Revolut's announcement of delisting Polygon (MATIC), Solana (SOL), and Cardano (ADA) in the U.S. The U.S. Securities and Exchange Commission had alleged that these tokens were unregistered securities. Users holding these tokens were required to sell them before September 18, and the tokens will be delisted on that date.

For Revolut's U.S. users who fail to sell their crypto holdings by October 2, the company will liquidate any remaining balance on October 3. Users will receive the market price for each token at that time.