- New York-based digital asset platform Bakkt has decided to delist Solana, Polygon, and Cardano, citing regulatory uncertainties.
- This delisting decision was made in response to the lawsuits filed by the U.S. Securities and Exchange Commission (SEC) against crypto exchanges such as Binance and Coinbase this month.
- SEC’s actions have led other crypto platforms to reevaluate their token listings as well.
New York-based Bakkt, which offers cryptocurrency trading services, has decided to delist 3 cryptocurrencies following SEC’s actions.
Bakkt Delists 3 Cryptocurrencies
New York-based digital asset platform Bakkt has decided to delist Solana, Polygon, and Cardano, citing regulatory uncertainties.
Marc D’Annunzio, the company’s general counsel and secretary, stated that this will continue until there is more clarity on how to provide a more comprehensive cryptocurrency list in a compliant manner.
This delisting decision was made in response to the lawsuits filed by the U.S. Securities and Exchange Commission (SEC) against crypto exchanges such as Binance and Coinbase this month. SEC included assets such as Solana, Polygon, and Cardano in the lawsuits, accusing both platforms of offering unregistered securities to their customers.
SEC’s Actions Prompt Other Platforms to Take Action
SEC’s actions have led other crypto platforms to reevaluate their token listings as well.
Last week, fintech app Robinhood announced that it will end support for Solana, Polygon, and Cardano on June 27 due to the regulator’s strict measures.
On Tuesday, trading platform eToro announced that it will delist Polygon, Decentraland, Dash, and Algorand from its U.S. platform starting from July 12.
Bakkt previously delisted Algorand and Decentraland from Bittrex in April following an SEC lawsuit. Currently, it continues to support eight other cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, Litecoin, USDC, and Shiba Inu.
