Bakkt delists Solana, Polygon and Cardano amid regulatory uncertainty: Fortune
New York-based digital property platform Baakt is delisting Solana, Polygon and Cardano, citing regulatory uncertainty.
The corporate’s basic counsel and secretary Marc D’Annunzio told Fortune it was taking motion “till there may be additional readability on find out how to compliantly provide a extra intensive record of cash.”
The delisting resolution follows the latest lawsuits filed by the U.S. Securities and Change Fee (SEC) this month towards crypto exchanges Binance and Coinbase, wherein the SEC alleged each platforms had been providing unregistered securities to their clients, together with Solana, Polygon and Cardano.
The SEC’s actions have additionally led to a reassessment of token listings by different crypto platforms. Final week, fintech app Robinhood introduced it could finish help for Solana, Polygon and Cardano on June 27 amid the regulator’s crackdown. On Tuesday, social buying and selling platform eToro mentioned it could delist Polygon, Decentraland, Sprint and Algorand on its U.S. platform from July 12.
Bakkt beforehand delisted Algorand and Decentraland in April, following an SEC lawsuit towards Bittrex. It continues to help eight different cryptocurrencies, together with Bitcoin, Ether, Dogecoin, Litecoin, USDC and Shiba Inu.
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