Revolut has announced that it has decided to terminate its crypto activities in the US, citing regulatory uncertainty.
Popular platform offering crypto-related services, Revolut, has stated that it will terminate its services in the US due to tight regulatory moves. In an email to local users, the company said that from September 2, Revolut’s US customers will not be able to place purchase orders for cryptocurrencies.
Editorial crackdown shakes up Revolut
Many regulators, especially the SEC, maintain their dominance over the crypto industry. The company that had the last problem with this issue was Revolut. The company spokesperson on the subject made the following statements;
As a result of the evolving regulatory environment and uncertainties around the crypto market in the US, we, together with our US banking partner, made the difficult decision to suspend access to cryptocurrencies in the US through Revolut.”
According to the spokesperson, the decision does not affect Revolut users outside the US. He also stated that it affects less than 1 percent of crypto customers globally. He added that Revolut customers on all other platforms can continue to sign up and use their crypto services.
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