An American trading platform called Robinhood has announced plans to stop supporting particular cryptocurrencies. Robinhood will stop providing services for Cardano (ADA), Solana (SOL), and Polygon (MATIC) as of June 27, 2023, at 6:59 PM (ET). After reviewing the available cryptocurrencies on the platform, a decision was taken.
The trading app Robinhood has informed its users that they would no longer be able to trade the aforementioned tokens on its platform as a result of the U.S. Securities and Trade Fee (SEC) classifying a number of cryptocurrencies as unregistered securities.
Paul Barron posed a query on Twitter, and attorney Invoice Morgan, who frequently offers insightful commentary on the current XRP vs SEC lawsuit, responded by using his Twitter account.
This decision was made immediately after the SEC asserted various claims against Binance and its CEO, Changpeng Zhao, in a complaint that was filed.
Cardano (ADA), Polygon (MATIC), Solana (SOL), Cosmos Hub (ATOM), Filecoin (FIL), Decentraland (MANA), Algorand (ALGO), The Sandbox (SAND), Coti (COTI), and Axie Infinity (AXS) are specifically mentioned in the complaint as securities, along with the BUSD and BNB stablecoins.
To reassure its consumers that no other money will be impacted and will remain safe on the platform, Robinhood has limited its delisting action to SOL, ADA, and MATIC.
