• Robinhood has announced that it will no longer accept Bitcoin SV deposits, and will delist the cryptocurrency from its platform by January 25th.
• Any Bitcoin SV held in customers‘ accounts will be sold at market value, with the proceeds returned to the respective users.
• Robinhood said that this decision was made as part of its regular review of the cryptocurrencies it offers.
Online trading app Robinhood has announced that it will no longer accept deposits of Bitcoin SV (BSV), and will delist the digital asset from its platform before the end of January. The decision was made as part of a regular review of the cryptocurrencies offered on the popular trading platform.
Robinhood said in a statement that it will cease accepting Bitcoin SV deposits starting from Wednesday, and will delist the cryptocurrency starting on January 25th. Any Bitcoin SV held in customers‘ accounts after this date will be automatically sold at market value, with the proceeds returned to the respective users.
The company stated that it has a “rigorous framework” in place to help it regularly review the crypto assets it offers. It is aiming to become “the most trusted, lowest cost, and easiest to use on-ramp to crypto”. By delisting Bitcoin SV, Robinhood hopes to further this goal.
The move has been met with mixed reactions from the crypto-verse. Some have praised the decision, citing the controversial behavior of Bitcoin SV’s proponents, while others have criticized the platform for making a decision that could affect the price of the digital asset.
Regardless of the opinions around the delisting, it is clear that Robinhood is taking a more active role in the crypto space, and is doing so to ensure the safety and trustworthiness of its platform. It remains to be seen what other cryptocurrencies might be added or removed in the future.