The SEC’s prosecution of Binance and Coinbase, where the regulator accuses the platforms of listing and selling unregistered securities, has prompted Bakkt to review its own list of offered assets.
In lawsuits against Binance and Coinbase, the SEC expanded its definition of securities and said that Solana’s SOL crypto assets, Polygon’s MATIC and Cardano’s ADA are recognized as securities. Against this backdrop, the steering committee of Bakkt’s trading platform decided to delist the assets classified as securities by the SEC.
The company’s administration is not commenting on the decision, citing that Bakkt is taking a compliance-first approach.
Earlier, crypto-assets SOL, MATIC and ADA were excluded
from the list of available ones on Robinhood’s trading platform.