On June 27, the online brokerage said that customers will no longer be able to trade Solana, Cardano, or Polygon using Robinhood.
The move by Robinhood was made in response to the SEC classifying these tokens as securities in its lawsuit against Binance and another complaint it filed the next day against Coinbase.
It is clear that the SEC’s legal action is already having an impact on the cryptocurrency market.
The operation of Binance.US and CEO Changpeng Zhao are the targets of the SEC’s lawsuit, which was filed on Monday.
Solana is a high-performance blockchain platform designed to provide fast and scalable solutions for decentralized applications.
Polygon is a layer 2 scaling solution for the Ethereum blockchain.
Polygon utilizes various technologies, including sidechains, Plasma, and a PoS consensus mechanism.