Leading US-based exchange Bakkt has decided to remove some major altcoins from its platform, including Cardano (ADA), Polygon (MATIC), and Solana (SOL). The Shiba Inu (SHIB) is not among the delisted entities. Here are the details.
Chinese journalist Wu Blockchain first revealed Bakkt’s delist decision. announced:
“Bakkt has delisted ADA, MATIC and SOL on the grounds of unclear supervision.
Bakkt voluntarily delisted Algorand and Decentraland tokens during the SEC’s lawsuit against Bittrex, followed by 25 tokens in May.
Bakkt is currently offering services for eight tokens, including BTC, ETH, LTC, SHIB, Dogecoin and USDC, after the latest delisting.”
Bakkt, as a digital asset platform, provides a service that allows users to buy, sell and trade cryptocurrencies. However, lack of clarity among regulatory bodies and legal uncertainties is a common problem faced by many platforms in the cryptocurrency industry. The decision to delist reflects Bakkt’s sensitivity to regulatory compliance and efforts to ensure the safety of users. According to the statement, the platform expects increased regulatory clarity in order to provide a more comprehensive coin list and is taking a proactive approach in this process.
It’s worth remembering that earlier this month, the US SEC filed high-profile lawsuits against Binance and Coinbase. Additionally, the SEC has listed altcoins it considers securities through these lawsuits, and that list includes ADA, MATIC, and SOL, which Bakkt has delisted. The SEC’s lawsuit against major cryptocurrency exchanges like Binance and Coinbase has caused a wave of concern among digital asset platforms. These cases show that regulators are starting to monitor activities in the cryptocurrency sector more closely and tend to take stricter measures on compliance.
Popular sensational altcoin Shiba Inu (SHIB) has survived the storm, while Bakkt has removed ADA, MATIC, and SOL from its platform due to concerns about uncertain oversight. Meme coin has maintained its place among the existing cryptocurrencies offered by the exchange. The exchange continues to offer crypto services with major players such as SHIB, Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).
You can check the price movements here.
Source : the crypto basic