Last Updated on August 4, 2023 by Bitfinsider
Revolut, a fintech startup, has announced that it will no longer sell cryptocurrency services to customers in the United States, citing the country’s difficult regulatory environment.
Beginning September 2, Revolut’s US customers will be unable to place cryptocurrency buy orders, according to an email issued to local users obtained by The Block. Users can continue to make sell orders until October 2, after which the venue will be completely shuttered, which means users will be unable to purchase, sell, or hold any cryptocurrencies.
“As a result of the evolving regulatory environment and the uncertainties surrounding the crypto market in the US,” a Revolut representative told The Block, “we’ve taken the difficult decision, together with our US banking partner, to suspend access to cryptocurrencies through Revolut in the US.” Metropolitan Commercial Bank is the company’s banking partner in the United States, according to a spokeswoman.
According to the spokesman, the decision has no effect on Revolut users outside of the United States and affects fewer than 1% of Revolut’s crypto consumers internationally. Customers in all other markets can continue to sign up for and use the platform’s cryptocurrency services.
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