Less than one percent of Revolut’s crypto clients would be affected, the firm said.
Regulatory scrutiny against cryptocurrencies has increased dramatically in the U.S.
Revolut has decided to discontinue offering cryptocurrency trading services to US users as of September 2023. This is due to regulatory uncertainties in the US. On Friday, August 4th, a Revolut representative stated that from September 2nd, the company will no longer enable customers in the United States to purchase cryptocurrencies using its app.
The spokesperson said:
“As a result of the evolving regulatory environment and the uncertainties around the crypto market in the US, we’ve taken the difficult decision, together with our US banking partner, to suspend access to cryptocurrencies through Revolut in the US. This decision has not been taken lightly, and we understand the disappointment this may cause”.
Increased Regulatory Scrutiny
Less than one percent of Revolut’s crypto clients would be affected, the f
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