UK-based neobank Revolut has announced the suspension of its crypto services in the United States from 2 September 2023.
The move follows the increasingly stricter regulatory environment for the US crypto space amidst a spate of recent SEC lawsuits.
From 2 September, American customers will no longer be able to execute crypto orders on the Revolut platform.
All crypto customers in the States received an email from Revolut informing them that: “We regret to inform you that we’ll be closing our cryptocurrency platform in the US.”
According to a spokesperson: “Revolut is actively pursuing alternative means of providing access to crypto products and we hope to offer crypto in the US again in the future,” Decrypt reports.
“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 U.S.,” the spokesperson added.
“This decision has not been taken lightly, and we understand the disappointment this may cause.”