- Regulator uncertainty was cited as the reason for delisting
- The platform delisted several more tokens in April
American crypto platform Bakkt announced the delisting of SOL, MATIC and ADA tokens. The company attributed its decision to regulatory uncertainty.
The removal of coins from the platform also follows the recent SEC lawsuits against cryptocurrency exchanges Binance and Coinbase. In a statement, the Securities and Exchange Commission alleges that both exchanges provided unregistered securities to their users, and that list included Solana, Polygon and Cardano.
Mark D’Annunzio, the company’s chief legal advisor, said the organization will retaliate until there is clarity about which coins can be offered as required by law.
Bakkt is not the only platform that will delist these three tokens. Robinhood announced in early June that it would review its cryptocurrency services. Specifically, the trading app will stop supporting Solana, Polygon and Cardano on June 27 amid regulatory crackdowns.</nbsp;
And as of July 12, customers of the eToro trading platform will not be able to trade four other coins: Polygon, Decentraland, Dash and Algorand.
In the past, Bakkt has delisted Algorand and Decentraland. This decision was made against the background of the lawsuit against the SEC exchange Bittrex.