Published on 16 Jun 2023 on Fortune via Yahoo Finance
Bakkt delists Solana, Polygon, and Cardano, citing lack of regulatory clarity
Just over two months after completing a $155 million acquisition of trading infrastructure provider Apex Crypto, the New York–based digital assets platform Bakkt is delisting three of the largest cryptocurrencies by market cap: Solana, Polygon, and Cardano.
Bakkt general counsel and secretary Marc D’Annunzio told Fortune in a statement the company was taking proactive measures “until there is further clarity on how to compliantly offer a more extensive list of coins.”
The decision comes a week after the Securities and Exchange Commission filed lawsuits against Binance and Coinbase, alleging that both crypto exchanges were offering unregistered securities to customers. In the complaints, the SEC alleged for the first time that Solana’s SOL, Polygon’s MATIC, and Cardano’s ADA are securities.