Against the backdrop of lawsuits from the US Securities and Exchange Commission (SEC) against the Binance and Coinbase crypto exchanges, Robinhood announced its intention to delist three cryptocurrencies at once on its platform.
“We regularly update the lists of cryptocurrencies that we offer. Based on the latest data, we have decided to stop supporting Cardano (ADA), Polygon (MATIC), and Solana (SOL) effective June 27, 2023 at 6:59 pm ET,” the company announced.
Users can continue to buy, sell and hold ADA, MATIC and SOL until June 27th. Upon expiration, any ADA, MATIC and SOL coins still in the user’s Robinhood Crypto account will be sold at market value and the money credited to the user’s account.
“Changes affect only ADA, MATIC and SOL. All other cryptocurrencies that you hold in Robinhood will not be affected,” the company assured.
This week, Robinhood announced its intention to delist assets whose trading could theoretically violate applicable US law.
According to the SEC, the securities category includes Solana (SOL), Cardano (ADA), Polygon (MATIC), Coti (COTI), Algorand (ALGO), Filecoin (FIL), Cosmos (ATOM), Sandbox (SAND), Axie infinity (AXS) and Decentraland (MANA).
Meanwhile, the Binance crypto exchange, which, according to the latest information, is going to spend $1 million to confront the SEC, has delisted ten trading pairs and suspended its OTC service.
Source: Bits
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