Revolut Temporarily Halts Crypto Services for US Customers
Digital bank Revolut is planning to suspend its crypto-related services for its customers in the United States. Some of the reasons for this decision are: Crypto services will be suspended starting from September 2, 2023, and will be fully disabled by October 3, 2023. Despite impacting 1% of global crypto customers, the company assured it […]
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by Mike Adams
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Digital bank Revolut is planning to suspend its crypto-related services for its customers in the United States. Some of the reasons for this decision are:
- Revolut is facing an uncertain regulatory environment in the U.S., as the country is considering new rules and legislation for the crypto industry.
- Revolut wants to ensure that its crypto services are compliant and responsible, and that its customers are protected from potential risks and harms.
- Revolut is also delisting some of the cryptocurrencies from its platform, such as Cardano, Polygon, and Solana, due to low liquidity and high volatility.
Crypto services will be suspended starting from September 2, 2023, and will be fully disabled by October 3, 2023. Despite impacting 1% of global crypto customers, the company assured it would maintain its non-crypto operations in the U.S. Additionally, Revolut reassured U.S. customers they can access and withdraw crypto holdings to external wallets before the deadline. The company said that it will keep monitoring the situation and will resume its crypto services in the U.S. when possible.
Revolut is a digital bank that offers a variety of financial services through its app and card. Some of the features are:
- Sending, spending and saving money in multiple currencies with no hidden fees
- Earning interest on your savings and getting cashback and discounts on your spending
- Investing in stocks, crypto, and commodities with low commissions and fees
- Traveling with a card that works in 150+ countries and gives you the real exchange rate
- Managing your subscriptions, donations, and security settings in one place
Revolut claims to have over 30 million customers worldwide who trust it with their money. You can learn more by visiting its website or its US website.
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