In the lawsuits filed by the Securities and Exchange Commission (SEC) against non-compliant crypto exchanges, Binance and Coinbase, the regulator listed Cardano (ADA) as an example of securities being offered without registration. Reacting to the allegation, Bakkt, a publicly-listed trading platform has delisted Cardano (ADA), but would this new hybrid exchange follow suit?
- Bakkt has announced that it will stop providing services for Cardano (ADA) due to a lack of clarity over the digital asset.
- Bakkts joins Robinhood, another centralized exchange (CEX) to delist ADA
- However, Tradecurve, a revolutionary hybrid exchange will still support Cardano because of the decentralized component of the platform lacking on Bakkt.
Bakkt Delists Cardano (ADA) Over SEC Security Labeling
One week after Robinhood announced that it will delist Cardano (ADA) from its trading platform, Bakkt, the one-stop shop for cryptocurrencies, has announced that it will stop supporting ADA on its platform along with Polygon (MATIC) and Solana (SOL).
Bakkts said it would stop providing services related to Cardano (ADA) and other top digital assets that were classified as securities in the lawsuits filed by the SEC against Binance and Coinbase. The company said it is now waiting for further regulatory clarity to be able to offer more digital assets on its trading platform.
Tradecurve Would Not Do the Same, Here’s Why
Unlike Bakkt and most other leading centralized exchanges (CEXs) delisting Cardano (ADA), Tradecurve, a new revolutionary exchange would not do the same. One main difference between Tradecurve and other CEXs is that the hybrid exchange retains its core of decentralization allowing users to have complete control over their digital assets and private keys.
As a centralized trading platform, Bakkt manages digital assets and places trades on behalf of its users. The SEC filed lawsuits against Binance and Coinbase because of this reason, as the regulator hopes to curb market manipulation and fraud from CEXs, which led to the infamous collapse of FTX in November 2022. Because of self-custody, Tradecurve would not have regulatory issues with the SEC and would be free to list Cardano (ADA)
Why Tradecurve Has the Edge Over CEXs
With a focus on transparency and privacy – features that are lacking in CEXs – Tradecurve will allow users to trade anonymously from anywhere in the world. This is possible because Tradecurve eliminates the KYC requirements that often serve as a restriction to users registering on market centralized exchanges.
Another feature that gives Tradecurve the edge over CEXs is the inclusion of derivative trading on the hybrid exchange. On Tradecurve, users will be able to trade a wider variety of financial instruments, including forex, options, CFDs, ETFs, and stocks from a single account.
Because of this, experts have predicted that Tradecurve will collect market shares from the likes of Binance, Bakkt, and Coinbase as it challenges to become a top three crypto exchange in 2023 join in early for only $0.018 before the price skyrockets by 100x.
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