Robinhood soon end support for 3 tokens named in SEC lawsuits
Robinhood, the popular cryptocurrency and stock trading app, has recently revealed its plan to cease support for three tokens: Cardano, Polygon, and Solana. These tokens have been classified as unregistered securities by the United States Securities and Exchange Commission (SEC) in response to its ongoing legal actions against major cryptocurrency exchanges such as Binance and Coinbase.
On June 9, Robinhood announced that it would be discontinuing support for Cardano, Polygon, and Solana, starting from June 27. The decision came after a thorough review conducted by the company. In a Twitter thread, Robinhood explicitly mentioned the legal actions taken by the SEC against Coinbase and Binance as the primary catalysts for delisting these tokens. The lawsuits introduced a sense of uncertainty surrounding the tokens, and since these were the only three tokens involved in the cases that Robinhood supported, the firm decided to remove them from its platform.
“We believe in the future of crypto and will continue to advocate for regulatory clarity in the U.S. so that customers can participate in the marketplace with greater confidence,” said Robinhood.
