Digital bank Revolut is closing its U.S. crypto platform citing an uncertain regulatory environment, the firm confirmed to NOCASH. U.S. customers will not be able to buy crypto via Revolut starting Sept. 2 but can continue to sell for 30 more days before access is fully disabled, a letter sent by the bank to local clients said.
Below is the official statement issued by Revolut’s Communication Department:
„As a result of the evolving regulatory environment and the uncertainties around the crypto market in the US, we’ve taken the difficult decision, together with our US banking partner, to suspend access to cryptocurrencies through Revolut in the US. From 2 September 2023, customers in the US will no longer be able to place buy orders for cryptocurrencies on Revolut. From 3 October 2023, access to cryptocurrencies through Revolut will be fully disabled and US customers will no longer be able to buy, sell, or hold any cryptocurrencies.
This decision has not been taken lightly, and we understand the disappointment this may cause. This suspension does not affect Revolut users outside of the US in any way, and impacts less than 1% of Revolut’s crypto customers globally. Revolut customers in all other markets can continue to sign up and enjoy using our crypto services.
Crypto customers in the US will find all relevant information regarding the suspension in the email communication they received from Revolut. Our dedicated support team is available to address any concerns and questions our US crypto customers may have via our in-app chat.„
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