- The regulator marked these tokens as securities
- The trading of these assets in the Revolut app will cease immediately
- But storage and withdrawal, according to unconfirmed reports, beginning September 18
Fintech firm Revolut has notified its US customers that it will stop supporting three tokens – ADA, MATIC and SOL. The reason for the delisting is the fact that the SEC marked the said assets as securities in a lawsuit against the Binance exchange.
It was reported in the media, citing an internal Revolut newsletter.. The appeal to users states that the sale of assets stops immediately. Nothing is known about the storage and withdrawal of cryptocurrencies.
While a user with the nickname “EggplantsLover” published a post on Reddit that said he received an email from the company. Based on that, the firm will completely stop processing the three specified tokens starting September 18.
Till then, holders are advised to liquidate their portfolios. But this information was not confirmed in Revolut. The publication also includes a quote from a letter in which the company directly points to the SEC as the reason for the blocking.
Reminder, the regulator marked as securities a number of assets in its lawsuit against Binance. You can find a list of the affected tokens in our separate piece. Both Solana and Polygon have reacted to the Commission’s announcement.. Representatives of both projects disagreed, but did not threaten a possible lawsuit. SOL holders, on the other hand, have proposed a fork in order to solve this problem.