Robinhood Drops Support for SEC-Designated Crypto Securities

Robinhood will end support for all tokens named in recent SEC lawsuits as securities, including Cardano, Polygon, and Solana, on June 27th. Users can continue trading and transferring the tokens until the deadline, after which they will be automatically sold for market value. The decision comes as part of Robinhood's regular review of cryptocurrencies, and the platform will continue to offer trading for 15 different cryptocurrencies, including bitcoin, ether, dogecoin, and avalanche. Robinhood had attempted to register as a special-purpose broker for digital assets but was unable to get the SEC to guide the platform into crypto compliance.