The crypto world is feeling the heat, and uncertainty has clouded investors' minds. It appears that the Security Exchange Commission is in the winning position.
It is normal for an exchange to delist tokens but it is something else when they mention SEC as the reason behind the delisting. Such mentioning places SEC on higher ground, and ignites fear in the entire market. Robinhood has announced its plans to delist three tokens mentioned in the lawsuit the Security and Exchange Commission (SEC) filed against Binance and Coinbase. The tokens are Cardano, Polygon ( Matic ), and Solana. They mentioned uncertainty of whether the tokens are Securities or not, and the token's inclusion in the lawsuit as the reasons behind the delisting.
Crypto.com on their part has announced the suspension of the US institutional exchange service. The Singapore-based Exchange made this open to the public while maintaining that their other services are still available for US users.
These events have increased the fear index in the Cryptocurrency world and may likely define the fate of the market in the next few months. When SEC filed a lawsuit against Coinbase and Binance at the same time, it was obvious that they wanted to create big tension in the crypto space. Coinbase and Binance are the leading exchanges in the Crypto world, so an attack on them will send a warning to other exchanges.
We survived the FTX saga and I am very certain we will survive this one. It will only take time. What I am not certain about is whether the SEC will someday remove their attention from the Crypto world especially when the uncertainty regarding Security offerings is cleared. Let us not lose hope. This is a time for the crypto world to untie.
#SEC #regulator