Revolut to Shutter US Crypto Operations
The UK-based fintech company Revolut has announced the termination of its bitcoin services in the US.
This decision is scheduled to go into effect on September 2, 2023, and it was motivated by the changing regulatory environment and ambiguities surrounding the American crypto sector.
U.S. consumers won’t be allowed to place buy orders for cryptocurrencies on the Revolut platform after this date. According to a Revolut spokeswoman, the company is “actively pursuing alternative means of providing access to crypto products and we hope to offer crypto in the US again in the future.”
A more extensive restriction will be put in place as a result of this modification beginning on October 3, 2023. At this time, Revolut customers in the United States will no longer have any access to cryptocurrencies. They won’t be allowed to purchase, sell, or hold any cryptocurrencies after that.
(With inputs from Shikha Singh)
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