The crypto regulation wave in the United States continues. As Invezz previously reported earlier in the week, financial firm Robinhood was hinting at possibilities of delisting tokens that the SEC deemed securities. On Friday, the commission-free investing company announced it would suspend support for Solana, Cardano, and Polygon by June 27, 2023, at 6:59 pm ET.

Robinhood is about to delist Cardano, Polygon, and Solana pic.twitter.com/L7T4x836d9

— Wolf Gamer (@WolfGam99160314) June 9, 2023

The firm stated it that blacklisted the altcoins after assessing its crypto offerings.  We will watch to see whether it will delist more cryptocurrencies. The report indicated that investors can buy, hold, and sell the affected tokens until the deadline (June 27).

Robinhood delists top altcoins

While the firm didn’t disclose the reason behind the delisting, the community believes the Binance and Coinbase lawsuits by SEC triggered the move. The United States Securities & Exchange Commission has attacked many digital tokens (calling them securities). Recently, the SEC added 16 more assets to that list, making 67 ‘illegal’ coins. Robinhood has ended support for altcoins named in SEC’s suit. Meanwhile, investors can still trade other cryptocurrencies, including Shiba Inu, Dogecoin, Bitcoin, Litecoin, and Ethereum.

What to do with your Solana, Cardano, and Polygon?

Robinhood will cease support for Solana, Cardano, and Polygon on June 27. Traders can buy, hold, or sell these tokens until the deadline. After that day, the trading company will dispose of the coins to the market and credit the proceeds to your account’s buying power.

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