Trading platform eToro announced on Monday that it would delist four crypto assets for its US customers, citing “recent developments.”
eToro, a social investment platform, has announced that it will be delisting four crypto tokens from its platform for US customers. Effective July 12, Algorand (ALGO), Decentraland (MANA), Dash (DASH), and Polygon (MATIC) will no longer be available for new positions for US customers. However, the platform has confirmed that existing positions in these tokens can still be held and sold by customers.
eToro has announced that it will be delisting MATIC, MANA, DASH, and ALGO for its US customers. SEC Action Leads EToro To Delist Four Tokens
As part of its ongoing review process, eToro has stopped supporting these tokens. The company cited "recent developments" as the reason for the move, likely referring to the legal action taken by the SEC against Binance and Coinbase. eToro has announced that it will be delisting MATIC, MANA, DASH, and ALGO for its US customers.
“eToro has a framework in place which reviews the cryptoassets we offer in light of the rapidly evolving regulatory landscape. Due to recent developments, we will be making some changes to our crypto offering for US customers.”
Binance is facing a lawsuit filed by the SEC, which has accused several popular crypto tokens of being unregistered securities. The tokens in question are Cardano (ADA), Polygon (MATIC), Solana (SOL), Cosmos Hub (ATOM), Filecoin (FIL), Decentraland (MANA), Algorand (ALGO), The Sandbox (SAND), Coti (COTI), and Axie Infinity (AXS). As a result, the platform will halt purchases for these four tokens only, while remaining a supporter of crypto assets.
“We remain a supporter of crypto assets and believe in the importance of offering our users access to a diversified range of asset classes, which includes 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.”
Following the announcement from its competitor Robinhood, eToro has also decided to end support for ADA, SOL, and MATIC.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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