Robinhood Drops Support for SEC-Designated Crypto Securities

Robinhood will end support for Cardano (ADA), Polygon (MATIC), and Solana (SOL) from June 27, 2023, citing regulatory uncertainty. Users have until the deadline to withdraw or sell these assets for fiat or other eligible assets on Robinhood. The decision comes after the U.S. Securities and Exchange Commission sued Binance and Coinbase for securities law violations, alleging that ADA, MATIC, and SOL were unregistered securities. Robinhood will support three fewer crypto tokens from its initial list of 18, including Bitcoin, Ethereum, Dogecoin, and Shiba Inu.