Yet Another Exchange Delists Altcoins Amid SEC Crackdown

June 16, 2023 11:36 am Comments

The Securities and Exchange Commission’s regulatory crackdown on cryptocurrencies and digital assets has left much of the industry in turmoil. …

Facing the heat from the federal agency and seeing giants like Binance and Coinbase sued by the SEC has smaller exchanges and crypto firms running scared.

One such exchange is Bakkt. …

According to the newest reports, the exchange is delisting Polygon (MATIC), Cardano (ADA), and Solana (SOL) in the wake of pressure from the SEC and the U.S. federal government.

Leo Schwartz writes:

“Bakkt is delisting Solana, Polygon, and Cardano just over a week after they were named as securities in two SEC lawsuits. This comes a month after Bakkt delisted 25 tokens following a $155m acquisition of Apex Crypto.”


Collin Wu had this to say:

“The exchange Bakkt delisted ADA, MATIC, and SOL on the grounds of unclear supervision. Bakkt delisted Algorand and Decentraland tokens amid the SEC lawsuit against Bittrex, and then voluntarily delisted 25 tokens in May. Bakkt currently offers eight tokens including BTC, ETH, LTC, SHIB, Dogecoin, and USDC.”



Crypto Slate provided this quote from Bakkt general counsel Marc D’Annunzio:

“[Bakkt is taking this measure] until there is further clarity on how to compliantly offer a more extensive list of coins.”


Blockworks reports:

The Intercontinental Exchange-owned firm, which supports crypto trade and custody for institutional clients, also confirmed that dogecoin (DOGE) and its rival shiba inu (SHIB) will continue to be offered through the platform, as well as USDC, ether (ETH) and bitcoin (BTC).

US regulators have previously suggested BTC and ETH are commodities, rather than securities.

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