Investment firm eToro has stated that starting July 12, 2023, American customers will be prohibited from trading in four different cryptocurrencies.
Investment firm eToro announced in a statement that from July 12, 2023, US customers will not be able to initiate new transactions for ALGO, MANA, DASH and MATIC. The company cited the rapidly evolving regulatory environment as the reason behind its delisting transactions. eToro announced on June 12: “Due to recent developments, we will be making some changes to our crypto offering for US customers. Starting at 1:00 PM CEST on Wednesday, July 12, 2023, US customers will no longer be able to open new positions for ALGO, MANA, DASH and MATIC. “Customers can continue to hold and sell their current positions in these assets.”
eToro’s Decision Will Only Apply to US Customers
This decision by eToro comes after the US Securities and Exchange Commission (SEC) sued Binance and Coinbase.
The US regulatory agency SEC has identified all four currencies as securities in its lawsuits, namely ALGO, MANA, DASH and MATIC. Last week, MANA fell 24 percent, DASH 25 percent, ALGO 18.4 percent and MATIC 22 percent.
In its announcement, eToro emphasized that the decision is only for customers based in the United States.
The company concluded, “We are committed to working closely with regulators around the world to shape the future of the crypto industry and support the reach of ordinary investors.”
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