1 year ago
Bakkt is the latest U.S.-based crypto level to delist Cardano, Polygon, and Solana due to the fact that of the caller regulatory uncertainty surrounding these assets, Fortune reported connected June 16.
Bakkt’s wide counsel and caput Marc D’Annunzio reportedly said:
“[Bakkt is taking this measure] until determination is further clarity connected however to compliantly connection a much extended database of coins.”
The U.S. Securities and Exchange Commission (SEC) had labeled the delisted assets arsenic information successful its lawsuit against Binance and Coinbase. The fiscal regulator alleged that the crypto exchanges violated national securities instrumentality and facilitated the trades of unregistered securities tokens.
Meanwhile, the teams down these integer assets person vehemently rejected this SEC classification.
Bakkt antecedently delisted integer assets
Bakt delisted 25 integer assets successful 1 swoop successful May, including Filecoin, Avalanche, Uniswap, Chainlink, Cosmos, Stellar, and Internet Computer. At the time, a institution typical attributed the firm’s determination to the regulatory changes occurring successful the crypto space.
Before that, Bakkt had delisted Algorand and Decentraland successful April pursuing an SEC lawsuit against Bittrex.
Meanwhile, Bakkt supports 8 cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, Litecoin, USDC, and Shiba Inu.
Regulatory uncertainty pushing exchanges to act
SEC’s caller regulatory onslaught has forced respective U.S.-based crypto firms to reassess their crypto listing.
During the past 7 days, astatine slightest 2 crypto trading firms person announced their determination to extremity enactment for immoderate integer assets the SEC had labeled arsenic securities. On June 9, Robinhood said its level would extremity enactment for ADA, SOL, and MATIC by June 27.
Three days later, different trading level eToro ended its U.S. customers’ entree to 4 cryptocurrencies, including DASH, MANA, ALGO, and MATIC.
The station Crypto level Bakkt drops Cardano, Polygon, Solana arsenic SEC scrutiny intensifies appeared archetypal connected CryptoSlate.
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