Exodus, a crypto wallet provider, stated that its planned listing on the NYSE American Stock Exchange was delayed due to a "surprising last-minute decision" by the US Securities and Exchange Commission (SEC), as per a statement on May 9.

The delay came after the SEC stopped the listing, citing ongoing review of Exodus's registration statement, according to NYSE.

Exodus expressed hope for a prompt and fair decision from the SEC, emphasizing the undeniable potential of crypto.

Initially scheduled to uplist from OTCQX to NYSE American by May 9, Exodus CEO JP Richardson highlighted the move's aim to enhance long-term shareholder value and increase liquidity within the investor community.

Despite the setback, Exodus indicated a possible reconsideration of listing on a national securities exchange later, while its shares, trading as EXOD, would continue on OTCQX.

Richardson expressed surprise over the last-minute decision but remained optimistic about the SEC treating them in accordance with the law, stressing Exodus's full transparency and responsiveness throughout the process.

Meanwhile, unaudited reports on Exodus' first-quarter earnings revealed significant revenue growth of 118% year-on-year, reaching approximately $29.1 million, with around 1.69 million active users.

Under Gary Gensler's leadership, the SEC has taken a stringent stance on the crypto industry, focusing on regulatory integration and classifying digital assets using the Howey test. However, critics advocate for clear legislative guidance from Congress, citing the industry's heightened uncertainty amid slow legislative action.