Cardano, Polygon, and Solana purchases have been suspended by Revolut for consumers in the United States, while holding and selling are still permitted through mid-September.
Cardano (ADA), Polygon (MATIC), and Solana (SOL), three cryptocurrency-friendly neobanks, have made preparations to be removed from Revolut’s platform in the US. This choice was made in response to the nation’s ongoing regulatory advancements.
Customers in the United States were informed by Revolut on June 29th about the impending delisting and that all purchases of ADA, MATIC, and SOL are now prohibited. Users can still purchase and sell these tokens up until September 18th, though.
Revolut claimed that changes to its U.S. infrastructure were the cause of the delisting. The company noted that it still supports ADA, MATIC, and SOL in other countries outside of the US.
Revolut’s decision to delist these tokens is not an isolated one. In recent weeks, delistings of ADA, MATIC, and SOL have also been announced by other companies, including Robinhood, eToro, and Bakkt, temporarily halting purchases.
Beginning in early June, the U.S. Securities and Exchange Commission (SEC) designated ADA, MATIC, and SOL as unregistered securities. The designation was a component of various legal cases brought against prominent cryptocurrency exchanges Binance and Coinbase.
Related: Robinhood pulls the plug on MATIC, SOL, ADA amid SEC crackdown
The delisting of these tokens by multiple platforms demonstrates how regulatory scrutiny has affected the US cryptocurrency market. Companies like Revolut, Robinhood, eToro, and Bakkt have demonstrated their attempts to abide by legal standards and negotiate the shifting regulatory environment surrounding cryptocurrencies through their actions.