Fintech App Revolut Exits US Market Amid Regulatory Uncertainty
In an email to Decrypt on Friday, August 4, a Revolut spokesperson noted that the London-based fintech firm shall disallow US users to buy cryptocurrencies from its app, from September 2 onwards. The spokesperson said: advertisement “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”. Revolut added that the decision would impact less than 1% of the company’s crypto customers. The London-based fintech firm said that it’s pursuing other alternative options to provide access to crypto products and would be open to serving US customers in the future. Revolut’s Exit Highlights Poor US Regulatory Landscape In the past few months, there has bee...