Revolut’s suspension of cryptocurrency services in the United States will affect 1% of their total global user base, the firm said.
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Revolut’s suspension of cryptocurrency services in the United States will affect 1% of their total global user base, the firm said.
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Crypto-friendly neobank Revolut has halted purchases of Cardano, Polygon and Solana for U.S. customers, while holding and selling remains available until mid-September.
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The crypto-friendly digital bank said the license would hold them to a higher “regulatory standard” that could give consumers confidence.
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Digital bank Revolut has partnered with Koinly to integrate cryptocurrency tax report services for users.
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Revolut reportedly issued a public statement and hired lawyers in March in order to prove “misreporting” of the audit opinion by BDO.
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The UK financial watchdog has received 300 crypto firm registration applications but has approved only 41 applicants.
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Blockchain.com becomes the second crypto exchange in two days to receive preliminary approval to provide crypto services within the growing crypto hub.
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Revolut had been the last ‘holdout’ out of 12 companies originally granted FCA temporary registration to continue offering crypto services in March.
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“The auditors are being significantly more challenging now, because they’re getting beaten up by their regulators,” reportedly said an individual familiar with Revolut’s situation.
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