Starting next month, eToro will no longer allow its American customers to trade MATIC, ALGO, MANA and DASH. The SEC recently declared that 4 tokens were securities.
The broker eToro announced last night that the digital coins Algorand (ALGO), Decentraland (MANA), Dash (DASH) and Polygon (MATIC) would no longer be offered to its customers. American users from July 12, 2023.
eToro has implemented a framework that examines the crypto-assets we offer in light of the rapidly changing regulatory landscape. Due to recent developments, we will be making some changes to our crypto offering for US customers,” the investment platform shared on Twitter.
Last week, the US securities regulator sued Coinbase and Binance. In its complaints, the SEC labeled a number of cryptocurrencies, including. MATIC, ALGO, MANA and DASHas financial securities and therefore logically subject to its rules.
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. (1/5)
– eToro US (@eToroUS) June 12, 2023
Valued at $3.5 billion at the time of its last fund-raising, eToro is not the first company to do so. decision. Robinhooda popular trading application in the US, will also be removing tokens from its offering following the SEC’s assault.
More specifically, the regulator mentions the following tokens: SOL, BNB, BUSD, ADA, ATOM, SAND, FIL, AXS, MATIC, CHZ, FLOW, ICP, NEAR, VGX, DASH, NEXO, MANA, ALGO and COTI.
The Solana Foundation, Polygon Labs and the Cardano Foundation have recently challenged the security designation of their tokens.
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