September 27, 2023

Robinhood Revises List of Available Assets Amid SEC Claims

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1 min.

Robinhood Revises List of Available Assets Amid SEC Claims

Against the backdrop of lawsuits from the Securities Commissionand exchanges (SEC) to the major crypto exchanges Binance and Coinbase, Robinhood Markets announced its intention to revise the list of assets available to users for trading on the platform.

In each lawsuit, the regulator claimed that some of the crypto assets listed on a particular exchange were unregistered securities.

Despite the fact that the brokerage crypto platformRobinhood provides users with access to a relatively limited list of 18 cryptocurrencies, against the background of the actions of the SEC, the company's management announced its intention to exclude from the list of available assets, trading in which could theoretically lead to violation of current legislation.

According to the SEC, the category of securities includesSolana (SOL), Cardano (ADA), Polygon (MATIC), Coti (COTI), Algorand (ALGO), Filecoin (FIL), Cosmos (ATOM), Sandbox (SAND), Axie infinity (AXS) and Decentraland (MANA)

Previously, the Robinhood platform announced
about the launch of the Robinhood Connect feature, which allows users to replenish Web3 wallets without requiring them to log out of the decentralized application or log into accounts.