Robinhood ‘Actively Reviewing’ Listed Coins After SEC Sues Binance and Coinbase

Robinhood is reviewing its crypto offerings aft the U.S. Securities and Exchange Commission (SEC) went aft large integer assets exchanges. In lawsuits against Binance and Coinbase, the regulator claims that a fig of tokens listed by the trading platforms are unregistered securities.

Robinhood Reviews Cryptocurrency Offerings Amid U.S. Crackdown connected Leading Exchanges

U.S.-based online broker Robinhood Markets is taking a look astatine its integer coin offerings pursuing the SEC’s determination to ace down connected Binance, the world’s largest crypto exchange, and Coinbase, the starring integer plus speech successful the United States.

The fiscal services institution is “actively reviewing” the regulator’s investigation “to find what, if any, actions to take,” the firm’s Chief Legal Compliance and Corporate Affairs Officer Dan Gallagher said, quoted by Bloomberg.

Gallagher, who is simply a erstwhile SEC commissioner, announced the determination erstwhile helium testified successful Congress earlier the House Agriculture Committee successful a gathering devoted to integer assets. Robinhood’s app facilitates trades of cryptocurrencies, alongside stocks and exchange-traded funds.

His comments travel aft the SEC took ineligible enactment against Binance and Coinbase this week with the securities regulator arguing successful the lawsuits that respective of the tokens listed by the 2 large cryptocurrency exchanges are successful information unregistered securities.

Robinhood users tin take betwixt 18 antithetic coins arsenic the brokerage provides a comparatively constricted entree to crypto assets successful examination with the hundreds of integer currencies listed by the exchanges. The SEC considers immoderate of them, solana, cardano and polygon, for example, unregistered securities.

At the aforesaid time, the SEC’s crackdown led to a important outflows of large cryptocurrencies similar bitcoin (BTC) and ETH arsenic good arsenic stablecoins from Binance connected Tuesday. Meanwhile, the regulator besides seeks tribunal support to frost crypto assets linked to Binance’s U.S.-based subsidiary.

Do you expect to spot a ample fig of coins delisted by crypto platforms operating successful the U.S.? Tell america successful the comments conception below.