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.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

MON - WED, MARCH 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience:  Attend expert-led panel discussions and fireside chats  Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts   Grow your network […]

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

Frax report cover.jpg


Frax saw continued development in its frxETH liquid staking derivative and Fraxlend money market throughout 2023. Frax V3 introduces an RWA strategy to drive utility to the protocol's cornerstone product, the FRAX stablecoin.


Accredited and non-accredited investors worldwide will be able to purchase the Note starting Dec. 6 on US-regulated trading platform INX


Bitcoin’s next halving is less than five months away. History says they’re bullish but will this time be different?


Merger is set to allow the combined business to “flex between our different lines of business,” Hut 8 CEO says


Agency’s decision to start comment window earlier than expected could be bullish for spot bitcoin ETF approval in January, industry watchers say


Jump Crypto is the trading firm at the center of Terra-related market manipulation allegations


Funds tied to Coinbase co-founder Fred Ehrsam have made the most of the COIN rollercoaster