Revolut curtailed support for tokens criticized by the SEC

Neobank Revolut notified customers via email about the delisting of tokens, which aroused suspicion from the US exchange regulator

British-Lithuanian digital bank Revolut will delist cardano (ADA), polygon (MATIC) and solana (SOL) tokens for US customers. This is reported by CryptoSlate with reference to a copy of an email to American customers from Revolut.

At the time of writing, Revolut's US customers cannot buy the above tokens. Later, the neobank will curtail the possibility of withdrawing and selling tokens, but the timing remains unclear. After stopping all operations on these tokens, Revolut will unilaterally sell off the balances of ADA, MATIC and SOL, and distribute the money received from the sale to customer accounts, the newspaper writes. Publicly, Revolut did not make any announcements about changing the list of supported cryptocurrencies.

As a reason for delisting in Revolut, they referred to the changing laws of the American market. At the same time, in a letter to customers, the neobank did not directly refer to the claims of the US Securities and Exchange Commission (SEC) to tokens.

Recall that in addition to Revolut, Robinhood, Bakkt and eToro also refused the above tokens. In early June, the SEC filed a lawsuit against the Binance cryptocurrency exchange, accusing it, in addition to numerous violations of federal law, of selling unregistered securities. These include ADA, MATIC and SOL, as well as a dozen other tokens.