Bakkt Delists Solana, Cardano, And Polygon Amid Regulatory Uncertainty

New York-based digital assets platform Bakkt has decided to delist three prominent cryptocurrencies— Solana, Cardano, and Polygon—due to regulatory uncertainty and a lack of clarity. This move follows recent lawsuits filed by the United States Securities and Exchange Commission (SEC) against leading crypto exchanges Coinbase and Binance, alleging the sale of unregistered securities, including Solana, Cardano, and Polygon.

The SEC’s legal actions marked the first time these three cryptocurrencies were specifically identified as securities. While SEC Chairman Gary Gensler has consistently asserted that most cryptocurrencies, except for Bitcoin, fall under the securities