Robinhood said that the move comes as part of its regular review of crypto assets.
US-based trading firm Robinhood announced the delisting of Solana , Cardano , and Polygon after the Securities and Exchange Commission labeled them as securities in the suits against two crypto heavyweights.
The company, which recently ventured into crypto, said the SEC’s claim cast a cloud of uncertainty around these assets and, as a result, its team decided to end support for them.Robinhood decided to end support for the three tokens on June 27th, 2023, at 6:59 PM ET. The leftover ADA, MATIC, and SOL in the user’s Robinhood Crypto account after the deadline will be sold for market value.
The proceeds, on the other hand, will be credited to their Robinhood buying power. The brokerage firm also confirmed that no other coins have been affected. The official“You can continue to buy, sell and hold ADA, MATIC, and SOL until the deadline. You will be able to transfer ADA, MATIC, and SOL until June 27th, 2023. ”
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