From 2 September, the British fintech firm Revolut will suspend the provision of cryptocurrency services in the United States due to “changing regulatory environment and uncertainty around the digital asset market”. This was reported by Decrypt.
“Revolut is actively seeking alternative ways to provide access to crypto products, and we hope to return to the United States in the future,” said representatives of the company.
From 3 October, the company will fully shut down the service for American clients. By then, they must withdraw all assets from the platform.
In June Revolut delisted ADA, MATIC and SOL tokens after the SEC classified these coins as securities in lawsuits against Binance and Coinbase.
The decision to depart the United States will not affect the firm’s activities outside the jurisdiction. According to the statement, the company will continue to expand in “other parts of the world, especially in Europe”.
Earlier, Revolut added for customers in the United Kingdom and the EU the ability stake Ethereum, Tezos, Cardano and Polkadot.
Earlier, in April, the cryptocurrency exchange Bittrex announced winding down its activities in the United States due to “regulatory uncertainty”.
In May, Ripple chief Brad Garlinghouse predicted a flight of crypto firms from the U.S. market to more progressive jurisdictions amid regulators’ unfounded pursuit.
Previously, the same idea was expressed by former Goldman Sachs top executive and macro-investor Raoul Pal.