Revolut will shut down its crypto trading operations in the US, citing regulatory uncertainty. Previously it had to delist three cryptocurrencies as the US Securities and Exchange Commission (SEC) classified them as securities.
Firms are giving up on their crypto businesses in the US due to the country’s strict stance against the asset class.
Revolut Joins Slew of Firms Abandoning Crypto Business
According to Bloomberg, the UK-based financial services platform Revolut will no longer allow its US customers to buy crypto from Sept. 2.
Moreover, the platform will revoke US customers’ access to their crypto assets in October by automatically liquidating them at the market price on that particular day. Hence, users will need to liquidate their crypto assets at the best suitable price within the deadline.
However, Revolut users in other jurisdiction may continue to use the platform’s crypto trading services. This development…
