After the Robinhood trading platform, which recently announced the delisting of Cardano (ADA), Polygon (MATIC) and Solana (SOL) cryptocurrencies, it is eToro’s turn to delist Algorand (ALGO), Decentraland (MANA), Dash (DASH) and Polygon (MATIC) of its platform in the United States.
Precautionary measures to avoid the wrath of the US regulator SEC, which has just sued the crypto exchanges Binance and Coinbase.
eToro announced the news on its Twitter account, stating that these changes only affect US customers of the trading platform known for its exorbitant trading fees.
“eToro has a framework in place that reviews the cryptoassets we offer in light of the rapidly changing regulatory landscape. Due to recent developments, we will be making some changes to our crypto offerings for US customers.
From 6:00 AM ET on Wednesday, July 12, 2023, US clients will no longer be able to open new positions in Algorand (ALGO), Decentraland (MANA), Dash (DASH) and Polygon (MATIC).
Customers may continue to hold and sell existing positions in these tokens. We remain supporters of crypto-assets and believe in the importance of giving our users access to a wide range of asset classes, which include stocks, ETFs and options.
We are committed to working closely with regulators around the world to shape the future of the crypto industry and champion access for the ordinary investor. Please note that these changes only apply to US customers. »
From 6:00 AM ET on Wednesday, July 12, 2023, US clients will no longer be able to open new positions in Algorand (ALGO), Decentraland (MANA), Dash (DASH) and Polygon (MATIC). Customers can continue to hold and sell existing positions in these coins. (2/5)
—eToro US (@eToroUS) 12 June 2023
While users will no longer be able to open new trading positions for these cryptocurrencies, existing positions on these tokens can still be held and sold by clients.
It remains to be seen whether these preventive measures will save eToro from being sued by the SEC, which has been on a crusade against companies in the crypto sector as a whole.
The crypto exchange Coin base has indicated that it will not remove any cryptocurrency from its platform and that it will not suspend its crypto staking service, click here to read our article.
Follow Crypto Tips on Telegram, Facebook and Twitter.