The U.K.-based neobank and financial technology (FinTech) company Revolut has announced that it would delist Cardano (ADA), Polygon (MATIC), and Solana (SOL) tokens in the U.S. The move came shortly after the U.S. Securities and Exchange Commission (SEC) labeled over a dozen tokens, including the ones delisted by Revolut, as unregistered securities in its consecutive complaints against major crypto exchanges, Binance and Coinbase. While explaining the decision, Revolut cited changing laws and regulations in the U.S. without specifying the SEC's increased crackdown on the crypto industry. - Following the move, users in the U.S. became unable to buy ADA, MATIC, and SOL through Revolut's app.
- However, U.S. customers will be able to continue to hold and sell these tokens until Sept. 18.
- Revolut will automatically sell the remaining tokens after this date at the market price of the time, and each user will get the equivalent amount in cash.
- On the other hand, the decision has affected a small portion of tokens listed by Revolut, which currently supports more than 80 tokens.
Several other trading platforms, such as Robinhood and eToro, also responded to the SEC's move by delisting some tokens labeled as unregistered securities in the lawsuits. - Crypto and stock trading app Robinhood recently delisted SOL, MATIC, and ADA, just like Revolut.
- Israeli social investing and trading platform eToro also recently announced that it would delist Algorand (ALGO), Decentraland (MANA), Dash (DASH), and MATIC for U.S. customers as of July 12.
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