{"id":23751,"date":"2023-06-16T23:48:12","date_gmt":"2023-06-17T03:48:12","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/bakkt-is-delisting-solana-polygon-and-cardano-citing-regulatory-uncertainty-fortune\/"},"modified":"2023-06-16T23:48:13","modified_gmt":"2023-06-17T03:48:13","slug":"bakkt-is-delisting-solana-polygon-and-cardano-citing-regulatory-uncertainty-fortune","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=23751","title":{"rendered":"Bakkt Is Delisting Solana, Polygon and Cardano Citing Regulatory Uncertainty: Fortune"},"content":{"rendered":"<div>\n<p>New York Stock Exchange listed company Bakkt is delisting Solana, Polygon and Cardano citing regulatory uncertainty, according to <u>Fortune<\/u>.\u00a0<\/p>\n<p>This comes days after the US Securities and Exchange Commission said those three cryptocurrencies, among others, are securities.\u00a0<\/p>\n<p>Marc D\u2019Annunzio, Bakkt general counsel and secretary, told Fortune in a statement published on Friday that the company was taking proactive steps \u201c \u201cuntil there is further clarity on how to compliantly offer a more extensive list of coins.\u201d<\/p>\n<p>Bakkt\u2019s move comes less than a week after <u>Robinhood<\/u> made a similar move, saying it would end support for those cryptocurrencies on June 27.\u00a0<\/p>\n<h2>SEC\u2019s pursuit\u00a0<\/h2>\n<p>The SEC <u>sued<\/u> Binance and its CEO Changpeng Zhao on June 5 over their \u201cblatant disregard\u201d of securities laws, including operating an exchange illegally and defrauding investors.\u00a0<\/p>\n<p>A day after suing Binance, the SEC sued Coinbase and said it was unlawfully operating its exchange without registering with the agency.\u00a0<\/p>\n<p>The regulator also charged the US crypto exchange for the unregistered offer and sale of securities related to its staking-as-a-service program.\u00a0<\/p>\n<p>In both those charges, the SEC said Solana, Polygon and Cardano \u00a0along with others, were securities.\u00a0<\/p>\n<p>SEC Chair Gary Gensler has said most cryptocurrencies are securities while also calling on crypto exchanges to register.<\/p>\n<p>Gensler reiterated that position at a Piper Sandler Global Exchange &amp; Fintech Conference on June 8.\u00a0<\/p>\n<p>\u201cThey are not growing out of the ground like corn or wheat. That they\u2019re digital doesn\u2019t differentiate them from huge swaths of the capital markets, where securities and currencies already are digital,\u201d Gensler said.<\/p>\n<p>Former SEC Chair Jay Clayton also seemingly <u>shares<\/u> that view.<\/p>\n<p>\u201cI\u2019ve said this for a long time: I think the market has evolved, but many, if not the vast majority, of the tokens that were sold for cash would fall within the definition of a security in America,\u201d said Clayton, while speaking at the R3 CordaDay conference on Wednesday, according to <u>TechCrunch<\/u>.<\/p>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/bakkt-delisting-solana-polygon-cardano-citing-regulatory-uncertainty-fortune.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York Stock Exchange listed company Bakkt is delisting Solana, Polygon and Cardano citing regulatory uncertainty, according to Fortune.\u00a0 This comes days after the US Securities and Exchange Commission said those three cryptocurrencies, among others, are securities.\u00a0 Marc D\u2019Annunzio, Bakkt general counsel and secretary, told Fortune in a statement published on Friday that the company [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":23752,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-23751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bakkt Is Delisting Solana, Polygon and Cardano Citing Regulatory Uncertainty: Fortune | iFintechWorld<\/title>\n<meta name=\"description\" content=\"New York Stock Exchange listed company Bakkt is delisting Solana, Polygon and Cardano citing 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