Robinhood decorates Solana (Sol), Cardano (ADA) and Polygon (Matic) according to the requirements of the Sec

Robinhood decorates Solana (Sol), Cardano (ADA) and Polygon (Matic) according to the requirements of the Sec
The Solana (SOLA), Cardano (ADA) and Polygon (Matic) (Matic) (Matic), based in the USA announced after the Securities and Exchange Commission (SEC) classified them as securities in the complaint against two crypto heavyweights.
The company, which recently dared to start cryptocurrencies, said that the SEC claim has generated a cloud of uncertainty about these assets and his team has therefore decided to stop support for them.
The pressure of the SEC increases
Robinhood has decided to stop support for the three tokens on June 27, 2023 at 6:59 p.m. The ADA, Matic and SOL remaining in the Robinhood Crypto account of the user's Robinhood Crypto account.
The proceeds, on the other hand, are counted into their Robinhood purchasing power. The brokerage company also confirmed that no other coins were affected. The official explanation was:
"You can continue to buy, sell and hold AdA, Matic and Sol until the deadline. You can transfer Ada, Matic and SOL by June 27, 2023. (If you live in Hawaii or Nevada, you cannot buy Ada, Matic and SOL.
The development teams behind the three projects - Polyogn, Solana and Cardano - have rejected the SEC complaint. Meanwhile, Robinhood's decision is made in the middle of the SEC's procedure against Binance and Coinbase, which the agency accused of doing illegal stock exchanges.
inefficiencies within the Sec
At the beginning of this week, Dan Gallagher, Chief Legal Officer from Robinhood said that the company "actively tested" the token after analyzing the agency. When he testified on Tuesday before the House of Representatives Agriculture Committee, Gallagher, who previously worked as a commissioner at the SEC, said that Robinhood tried to register with the agency as a special broker for digital assets and had gone through a 16-month process.
In March, SEC employees Robinhood said that the process was completed and that they "would not see any fruits of this effort".
Gallagher's statement reflects Paul Grewal's complaint, Chief Legal Officer from Coinbase, that the crypto exchange was unable to ensure registration despite months of discussion. He accused the SEC of rejecting the platform's attempts without reaction or counter -proposal.
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