eToro broker suspends operations with four altcoins in the United States

The company attributed the decision to “recent developments,” referring to the SEC’s lawsuits against crypto exchanges Coinbase and Binance

13.06.2023 - 11:30

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Last updated on Aug 5, 2024

eToro cited "recent developments" as the reason for the move, referring to the SEC's legal action against Coinbase and Binance and the regulator labelling certain cryptocurrencies as securities.

Social investing platform eToro will delist a selection of crypto token for its U.S. customers in a month's time in response to recent legal action by the U.S. Securities and Exchange Commission (SEC).

From July 12, U.S. customers will no longer be able to open new positions in the tokens of Algorand (ALGO), Decentraland (MANA), Dash (DASH) and Polygon (MATIC), eToro announced on Monday.

However, customers will still be able to hold and sell existing positions in these tokens.

The crypto platform cited "recent developments" as the reason for the move, referring to the SEC's legal action against crypto exchanges Coinbase and Binance and the regulator listing certain cryptocurrencies as securities.

In taking this action, the platform is following Robinhood (HOOD), which delisted Cardano's ADA), Solana's SOL and MATIC last week.

This material is taken from the website https://www.coindesk.com.

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