UpdatesAug 05, 2023

Revolut has decided to suspend cryptocurrency services in the United States

A British bank based in London is withdrawing from the US.

Due to the prolonged regulatory uncertainty related to the digital currency sector in the United States, a well-known financial company that enables cryptocurrency trading has decided to suspend its services in this country. This step was taken on August 4 this year, and it is to apply from September 2, 2023.

Revolut has decided to suspend cryptocurrency services in the US

A well-known British company based in London - Revolut, together with its US banking partner, will work in the near future to suspend access to cryptocurrency trading through its platform for customers with an American passport.

This information resonated with the US cryptocurrency community and was released to the media on August 4 this year. The suspension of the aforementioned offer in the field of digital currencies in the US is to take place from September 2 this year. It is worth noting that the consequence of the decision made by Revolut will be that from October 3, access to digital currencies for users from this country will be completely disabled.

An important fact is that from the set date, American customers will no longer be able to buy, sell and hold cryptocurrencies using the Revolut app.

Impact of Revolut's decision

Based on a statement that was issued by a representative of Revolut, the withdrawal of US customers on the issue of digital currencies will affect only 1% of the total number of global crypto customers of the company. Moreover, he added that Revolut will continue to provide its other non-cryptocurrency services to American customers.

"Our recent decision was not taken lightly and we fully understand the disappointment this may bring to our US customers," a Revolut spokesperson said.

US Revolut customers are to receive all necessary information regarding the suspension of cryptocurrency services via email.