Bulletpoints:
• Robinhood has announced plans to delist Bitcoin SV (BSV) before the end of January.
• Customers will not be able to deposit or trade Bitcoin SV after January 25th.
• Any Bitcoin SV held in user accounts will be sold at market value and the proceeds given to the respective users.
Robinhood, the popular online trading app, announced on Wednesday that it is delisting the cryptocurrency Bitcoin SV (BSV) by the end of January. The decision came after an extensive review of all the cryptocurrencies that the platform offers.
Starting from now and until January 25th, customers will still be able to hold and sell any Bitcoin SV that they may already have. But after this date, the platform will no longer support Bitcoin SV trades, purchases, or transfers. Any Bitcoin SV held in user accounts will be sold at market value and the proceeds given to the respective users.
The company released a statement on its website stating that “We have a rigorous framework in place to help us regularly review the crypto we offer on Robinhood…We are extremely selective about the assets we offer as we build toward our goal of making Robinhood Crypto the most trusted, lowest cost, and easiest to use on-ramp to crypto.”
The news has been met with mixed reactions from the cryptocurrency community, with some feeling that the decision was arbitrary and lacked transparency. Others have applauded the move, arguing that it is a necessary step to ensure that the cryptocurrency space is more secure and regulated.
Regardless of the opinions, it is clear that Robinhood is taking steps to ensure the safety of its customers and the integrity of the cryptocurrency market. With the delisting of Bitcoin SV, the platform is sending a clear message that it is committed to providing only the best and most reliable services for its customers.