Trading and investment platform eToro has announced that it will make some changes to its crypto services for US customers due to the changing regulatory environment.
The company said it has a framework that evaluates the crypto assets it offers and adjusts accordingly.
According to an official statement posted on Twitter, starting Wednesday, July 12, 2023 at 13:00 CEST, US customers will no longer be available. Algorand (ALGO), Decentraland (MANA), Dash (DASH) and in Polygon (MATIC) will not be able to open a new position. Clients can continue to hold and sell their current positions in these coins.
The company did not specify the reasons behind the decision, but it may be related to recent actions taken by the US Securities and Exchange Commission (SEC) against certain crypto projects.
The SEC recently sued Coinbase, describing a large number of altcoins as securities. They are named Bitcoinsistemi.com SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, NEXO, BNB, ATOM, MANA, ALGO, COTI we have listed.
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
eToro, cryptocurrency He said he remains a supporter of assets and believes in the importance of offering users access to a diversified assortment of asset classes that includes stocks, ETFs and options. The company also said it is committed to working closely with regulators around the world to shape the future of the crypto industry and advocate access for the ordinary investor.
The company stated that these changes only apply to US customers and its global service is not affected.
*Not investment advice.
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