eToro restricting access to four cryptocurrencies for US customers
Starting in July, U.S. users won’t be able to invest in DASH, MANA, ALGO, and MATIC.
In an email that was shared with CryptoSlate on June 12, stock and cryptocurrency trading platform eToro stated that users based in the United States would not be able to open new positions in Algorand (ALGO), Decentraland (MANA), Dash (DASH), or Polygon (MATIC) after 6:00 a.m. ET on July 12, 2023.
It stated that customers in the United States would be able to maintain and trade positions in the assets they had already opened. Customers outside of the United States would not be affected by the change, it added.
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The company stated that it had taken action as a result of “recent developments” in a “rapidly evolving regulatory landscape,” and it cited regulations as the reason for its decision.
However eToro didn’t state which administrative improvements are of concern, each of the four impacted cryptos were named in claims that the U.S. Protections and Trade Commission (SEC) recorded against Coinbase and Binance starting on June 5.
Several additional cryptocurrencies were also mentioned in those instances, but either eToro did not mention them in its announcement or it did not initially support them.
eToro is typically regarded as a trading platform. It permits clients to close open crypto positions and pull out their equilibrium in real money or digital currency, while most standard digital money trades offer direct exchanging of cryptographic forms of money.
Tags: eToro