Revolut will stop providing crypto exchange services

The British fintech startup Revolut, founded by Nikolai Storonsky, has decided to completely stop operations with cryptocurrencies in the United States. The provision of cryptocurrency services will be stopped on September 2, and access to these services will be completely disabled from October 3 of this year. This decision was made in light of the uncertainty in the US cryptocurrency market and changes in the regulatory framework.

Information about Revolut’s intention to cease operations with cryptocurrencies in the United States appeared in a letter sent to customers of a startup in this country, according to Decrypt.

The reason for this step was the unpredictable conditions in the US cryptocurrency market, as well as changes in the legislation relating to cryptocurrency transactions.

Earlier, the largest crypto exchanges Binance and Coinbase were sued by the US Securities and Exchange Commission (SEC) for violating the rules for the circulation of securities. The SEC charged these exchanges with operating as unregistered exchanges and unregistered sales of securities.