• On June 27, 2023, assist for 3 cryptocurrencies will finish.
• Robinhood presently affords solely 18 cryptocurrencies.

Robinhood introduced Friday that it’ll not assist among the cryptocurrencies it presently affords on its platform. That is doubtless because of the latest lawsuit filed by the U.S. Securities and Change Fee (SEC) towards two main cryptocurrency exchanges, Binance and Coinbase.

Even though Cardano (ADA), Polygon (MATIC), and Solana (SOL) are all among the many prime 10 currencies by market capitalization, the corporate has made the choice to finish assist for these cryptocurrencies. . It’s unclear if the platform will take away different cryptocurrencies from its service.

SEC Crackdown After Results

The cryptocurrency market is transferring roughly sideways forward of the US Federal Reserve’s rate of interest choice on June 14, 2023, however there are nonetheless three huge names: Cardano (ADA), Polygon (MATIC) and Solana (SOL). Not one of the cash confirmed any change. Fast response to Robinhood delisting announcement.

Though the corporate didn’t specify the lawsuit towards Coinbase and Binance as the idea for its delisting, it’s broadly believed to be the case. Some crypto tokens have already been permitted as securities by the US Securities and Change Fee.

Moreover, for the reason that latest lawsuit, regulators have added 16 extra tokens to the 67 they already deemed securities. The corporate introduced that as of June 27, 2023, Robinhood will finish assist for 3 cryptocurrencies.

The group mentioned:

Nonetheless, Bitcoin, Ethereum, Litecoin, Dogecoin, Shiba Inu, and so forth. can nonetheless be traded on the platform. Robinhood presently affords solely 18 of his cryptocurrencies, and 15 when his three above are gone.

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