Revolut delists ADA, MATIC, SOL

The SEC has claimed that SOL, MATIC and ADA are securities


Voar Designs/Shutterstock modified by Blockworks


Revolut told US customers that it will be delisting Cardano’s ADA, Polygon’s MATIC and Solana’s SOL tokens on its platform.

“Our US crypto services provider has decided to delist these tokens due to the changing laws and regulations around cryptocurrency in the US. Because of this, we’ll no longer be able to process your buy and sell orders for these tokens,” Revolut told customers. 

Revolut uses Bakkt, which announced its plans to delist ADA, MATIC and SOL in mid-June. Revolut said that effective immediately, users will no longer be able to buy these tokens via its service. It will end custodial support for them fully on Sept. 18.

However, “there are no plans to delist these tokens in other markets, where they remain available,” a Revolut spokesperson told Blockworks via email.

“We are taking proactive action to delist three coins that could be deemed securities until there is further clarity on how to compliantly offer a more extensive list of coins,” a Bakkt spokesperson told Blockworks

Robinhood also shut down support for the same three tokens following the SEC’s lawsuits against Binance and Coinbase, citing a “cloud of uncertainty.” Support officially ended on June 27.

The regulatory agency has claimed that SOL, MATIC and ADA are part of a group of tokens that constitute securities. 

In its arguments, it claimed that SOL’s  “marketed burning” led investors to believe that they could make a profit off of their investment.

The SEC also targeted polygon’s burn marketing, saying that there are indications that the supply would decrease.

MATIC was also delisted on eToro, as well as dash, algorand and decentraland — three other tokens the SEC has targeted in its lawsuits. Support ends on July 12.

“We are committed to working closely with regulators around the world to shape the future of the crypto industry,” the company tweeted

Coinbase, in a lengthy response to the SEC’s claims, argued that the SEC can’t “seize power” as it attempts to regulate digital assets and that Congress needs to make decisions in terms of regulations.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Screenshot 2024-05-23 091855.png


Bitcoin L2s aim to boost scalability while preserving decentralization and security, unlocking a better user experience, and new avenues for Bitcoin-powered innovations. However, no existing Bitcoin L2 leverages the full security of Bitcoin.



The convergence of AI and blockchain on Polkadot represents a groundbreaking opportunity for investors and developers alike


The company is making public a previously private offer rejected by Bitfarms’ board of directors last month


Semler Scientific, a publicly traded medical tech company, joined MicroStrategy by buying up millions of bitcoin


As someone who’s been knee-deep in the trenches of blockchain development, I can’t help but wonder if these behemoths are really cutting it anymore


UNI and MKR are suffering from the successes of their respective protocols


Maybe there’s no silver bullet to avoiding most tokens dumping after launch…