New York-based digital asset platform Baakt delists Solana, Polygon and Cardano, citing regulatory uncertainty.
The company’s General Counsel and Secretary Marc D’Annunzio told Fortune took action “until there is more clarity on how to offer a more comprehensive list of coins in compliance with the rules.”
The removal decision follows recent lawsuits filed this month by the US Securities and Exchange Commission (SEC) against crypto exchanges Binance and Coinbase, in which the SEC alleged that both platforms offered unregistered securities to their clients, including Solana, Polygon and Cardano.
The SEC’s actions have also led to a reassessment of token listings by other crypto platforms. Last week, fintech app Robinhood announced it would end support for Solana, Polygon, and Cardano on June 27 amid the regulator’s crackdown. On Tuesday, social trading platform eToro said it would remove Polygon, Decentraland, Dash and Algorand from its US platform starting July 12.
Bakkt previously delisted Algorand and Decentraland in April, following an SEC filing court case against Bittrex. It continues to support eight other cryptocurrencies, including Bitcoin, Ether, Dogecoin, Litecoin, USDC, and Shiba Inu.
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