Fintech trading app Robinhood could delist the tokens named in lawsuits by the SEC this week, a representative for the company told a Congressional committee.
Robinhood’s weighing what to do with tokens it lists that are named as unregistered securities in recent Securities and Exchange Commission enforcement actions against Binance and Coinbase.
The company possesses a broker-dealer license for the trading of securities. Still, Gallagher didn’t think the company could use that to trade the tokens named as unregistered securities by the SEC, including Solana, Polygon, and Cardano, in those two enforcement actions. Industry witnesses, including Gallagher, former Commodity Futures Trading Commission Chair Christopher Giancarlo — who now is senior counsel at the law firm Willkie — and Coinbase Chief Legal Officer Paul Grewal sought to define exactly what should be disclosed for potential crypto investors.
“So we don’t know what we’re disclosing, but we’re going to be disclosing something. It’s not earnings, it’s not business strategy, it’s just something,” said Duarte.
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