- The change will affect DASH, MANA, ALGO and MATIC
- The decision took effect from June 12
- The company explained it with “changes in the regulatory environment”
Since June 12, American users of the trading platform eToro can no longer open a position with DASH $29 Dash DASH 2.23% Market cap $332.3m Vol. 24Н $9.8m Exchange partner
, MANA $0 Decentraland MANA 2.31% Market cap $633.1m Vol. 24Н $11.7m Exchange partner , ALGO $0 Algorand ALGO 4.01% Market cap $835m Vol. 24Н $25.3m Exchange partner і MATIC $1 Polygon MATIC 2% Market cap $6b Vol. 24Н $204.5m Exchange partner . The company explained its decision by “the development of the regulatory framework.”</nbsp;
In this case, customers will be able to close existing positions and liquidate the balance in the designated tokens. The company also stressed that the change applies only to customers in the United States.
In a corporate letter obtained by the media, eToro refers to “changes in the constantly evolving legal and regulatory framework.”. Apparently, the platform does not want anything to do with the “problematic” tokens.
All four crypto-assets are mentioned in the recent Securities and Exchange Commission (SEC) lawsuit against the Binance exchange. They, as well as a number of other tokens with a total capitalization of $115 billion, are positioned as securities.
We also note that Polygon (MATIC) and Solana (SOL) have already commented on the regulator’s statement. Both expressed displeasure, but not too strongly. In the meantime, the Solana community is suggesting a fork to solve any potential problems in the legal field.</nbsp;
I wonder how the measures taken by eToro will affect the company’s position in the United States. The platform has had great difficulty getting a license in New York, which is one of the largest local markets in the States. Wouldn’t its decision to buckle under the SEC be a blow to activity on the platform?