Fintech giant Revolut is suspending cryptocurrency services in the US, citing the evolving regulatory environment.
American customers will not be able to buy crypto via the Revolut app from 2 September. Selling and holding crypto will be disabled from 3 October.
In a statement, the firm says: "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."
The move impacts less than one per cent of Revolut's crypto customers globally.
UK-based Revolut introduced the ability to buy, sell and hold crypto in the US in 2020 but over the last year the regulatory environment has soured in the wake of the FTX collapse, with the likes of Binance and Coinbase targeted by the SEC.