Bitcoin Has A Reason To Celebrate After SEC's Cryptocurrency Crackdown

Robinhood, a popular stockbroking app, has removed support for several cryptocurrencies named in a Securities and Exchange Commission (SEC) lawsuit against the company.

In early January 2019, Robinhood announced that it would stop supporting certain cryptocurrencies on its platform due to a lack of clear regulatory status – a move heavily criticized by enthusiasts. cryptocurrency as well as industry experts.

Robinhood's decision is not an isolated incident. In December 2018, Coinbase also announced that they would no longer support Ethereum Classic (ETC) or Zcash (ZEC). According to Coinbase's announcement, ETC and ZEC are both unregulated tokens and therefore not supported by the exchange.

The SEC's lawsuit against Robinhood comes at a time when cryptocurrencies are increasingly being treated as securities by regulators around the world. In its complaint against Robinhood on January 14, 2019, the Commission stated that these three tokens are securities under US law because they are offered only as investments and not as convenience tokens. benefits as defined under the previous law. He also stated that he