“eToro is analyzing the crypto assets we offer in light of the rapidly changing regulatory environment. Due to recent events, we will make some changes to our cryptocurrency offerings for U.S. customers,” the company wrote.
Starting Wednesday, July 12, US customers will no longer be able to open new accounts in Algorand (ALGO), Decentraland (MANA), Dash (DASH) and Polygon (MATIC). However, eToro customers can continue to hold and sell these coins.
The company assured that it is committed to working closely with regulators around the world to “shape the future of the crypto industry.”
The U.S. crypto industry has faced uncertainty after the Securities and Exchange Commission (SEC) filed a lawsuit last week against Binance, its U.S. unit Binance.US and CEO Changpeng Zhao for several violations of federal securities laws;
A day later, a similar lawsuit was filed against cryptocurrency exchange Coinbase. The regulator said Coinbase has been operating in the country since 2019 as an unregistered broker and trading cryptocurrencies, which are securities;
Meanwhile, exchanges Coinbase and Binance lost about $4 billion in a week, Nansen and Glassnode said.