GM, this is The Crypto Explorer, let's face it, trying to keep up with crypto is like catching a greased-up pig.

Let’s do the chasing for you! 😀

Here’s what we got for you today:

• 🚨 SEC Lawsuits force Robinhood to delist tokens.

• 😱 Hong Kong defies SEC lawsuit, and invites crypto exchanges.

• 🧱 Around The Block: FTX authorized to ‘permanently redact’ names of individual customers.

🚨SEC Lawsuits Force Robinhood to Delist Tokens.

Robinhood, a cryptocurrency and stock trading app, has announced that it will no longer support Cardano, Polygon, and Solana tokens on its platform, starting on June 27.

Why?

The firm specifically cited the SEC's legal actions against major crypto exchanges, Binance and Coinbase as the reason for delisting the tokens.

The tokens delisted by Robinhood were the only three supported by the firm that was involved in the cases filed by the SEC against Binance and Coinbase, who are accused of trading unregistered securities.

The SEC’s really crapping on everyone’s trading.😒

So, what happens to the unsupported tokens that are left on Robinhood after the deadline?

Robinhood has stated that any ADA, MATIC, and SOL still in your Robinhood Crypto account after the deadline will be sold for market value and the proceeds will be credited to your Robinhood buying power.

In related news, Crypto.com (a Singapore-based cryptocurrency exchange) has announced that it will no longer provide services to institutional clients in the United States starting from June 21.

So, it seems like the bad news keeps coming, let's hope for a light at the end of the tunnel.

 😱 Hong Kong Defies SEC Lawsuit, Invites Crypto Exchanges.

Hong Kong is on a mission to be the digital hub for the cryptocurrency industry.

And to achieve that, they’re showing immense support for cryptocurrencies.

In January 2023, Hong Kong’s Financial Secretary, Paul Chan, announced the government's commitment to building a strong ecosystem for crypto and fintech.

Since then, Hong Kong has been actively formulating regulations and implementing compliance measures to foster the growth of the cryptocurrency industry.

And now, a Hong Kong legislator named Johnny Ng has extended an invitation to Coinbase and other cryptocurrency exchanges to establish their operations in the region.

This invitation is coming despite the SEC’s recent lawsuit against industry players, Binance and Coinbase for violating securities law in the US.

Exchanges like OKX and Huobi have already applied for virtual asset service provider licenses in the region.

Samsung, a South Korean tech giant, announced in January that it would introduce a Bitcoin futures active exchange-traded fund on the Stock Exchange of Hong Kong.

Looks like Hong Kong might be the safe haven for crypto exchanges.😇

Contrary to the cautious stance of several Western countries toward cryptocurrencies, Hong Kong is going all in.

The Hong Kong Monetary Authority (HKMA) has announced its intention to lay the groundwork for the introduction of a retail central bank digital currency (CBDC) as a means of everyday payment and to facilitate customer access to cryptocurrency exchanges.

Reports also emerged in mid-February suggesting that Chinese government officials were granting strategic approval to Hong Kong's pro-crypto initiatives.

This recognition from Chinese authorities emphasizes the significance of Hong Kong's efforts in the crypto space and their potential impact on the broader digital currency landscape.

Kudos Hong Kong! You're doing great in the crypto space.😎

🧱 Around The Block: FTX authorized to ‘permanently redact’ names of individual customers.

• ✍️ FTX Lawsuit: FTX authorized to ‘permanently redact’ names of individual customers.

• 📈 Increased Exchange Outflows: Binance CEO CZ responds as data points to billions in exchange outflows.

• ⚖️ Crypto Regulation: US senator revamps efforts for crypto regulations amid SEC lawsuits.

• 📑 Report: ALGO, FLOW rebound from all-time lows, others rebuff SEC securities label.

That's all we've got for you today.

Please don't forget to rate today's email and let us know what you like about it.

In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.