Revolut’s suspension of cryptocurrency services in the United States will affect 1% of their total global user base, the firm said.
Revolut News
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Crypto-friendly neobank Revolut has halted purchases of Cardano, Polygon and Solana for U.S. customers, but holding and selling remains available until mid-September.
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The crypto-friendly fintech said that the license would hold it to a higher “regulatory standard” that could give consumers confidence.
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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 the “misreporting” of the audit opinion by BDO.
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Revolut had been the last "holdout" out of the 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,” an individual familiar with Revolut's situation reportedly said.
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Now valued at $33 billion, Revolut didn’t rule out a potential IPO this year, but the firm's CFO suggested that it was unlikely.
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A 108-page report details how the United Kingdom can retain its status as one of the global centers for fintech innovation and business.
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Revolut warned users that their XRP funds could be stuck "in a worst-case scenario."
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Two big crypto companies enter Japan.
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Revolut’s losses in 2019 surged over 200% due to investment in international expansion, Revolut founder and CEO says.
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Opera users in the United Kingdom can now purchase cryptocurrency directly via bank accounts or digital banking app Revolut.
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Bloomberg thinks Bitcoin could return to record highs of $20,000 this year, but warns Ether may not be the world’s second-biggest cryptocurrency for much longer.
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London-based tech startup Revolut confirmed its employee downsizing numbers.
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