“Just days after the U.S. Securities and Exchange Commission sued crypto exchanges Binance and Coinbase for selling unregistered securities, crypto companies are already dealing with the fallout,” reports Mashable:

The popular stock trading app Robinhood announced on Friday that the company would be delisting all of the cryptocurrency tokens that trade on its platform that the SEC classified as unregistered securities. According to Robinhood, it will end support for the crypto tokens Cardano (ADA), Polygon (MATIC), and Solana (SOL) after June 27. Users can buy and sell these tokens until then, and can transfer these tokens to other crypto wallets as well. However, after that date, any account holding Cardano, Polygon, or Solana in their Robinhood account will automatically sell the tokens and be credited with the funds.
Also on Friday, the crypto exchange Crypto.com announced that it would be shutting down one of its services: its institutional exchange [which] provided services for institutional investors like pension funds, mutual funds, and university endowments.
“In a statement provided to the cryptocurrency media outlet Blockworks, Crypto.com claimed that the decision was made due to ‘lack of demand due to the market landscape in the U.S.'”

Read more of this story at Slashdot.

Source: Slashdot – Robinhood App Will End Support for Three Cryptocurrency Tokens After June 27