Leading social investing platform, eToro, has announced that it will delist Algorand (ALGO), Decentraland (MANA), Dash (DASH), and Polygon (MATIC) for its U.S. customers starting from July 12.
The decision comes in response to recent legal actions by the U.S. Securities and Exchange Commission (SEC) and their classification of certain cryptocurrencies as securities.
The U.S. regulator has classified ALGO, MANA, DASH, and MATIC as securities, resulting in recent declines of 18.4%, 24%, 25%, and 22% respectively against the U.S. dollar. It is important to note that Etoro’s announcement specifically applies to clients located within the United States.
The delisting decision is driven by eToro’s objective to comply with regulatory requirements and ensure the protection of its U.S. customers. The SEC’s ongoing legal actions against major crypto exchanges like Coinbase and Binance have prompted platforms like eToro to reevaluate their cryptocurrency offerings.
This development highlights the increasing regulatory scrutiny in the cryptocurrency industry and emphasizes the need for platforms to adapt to evolving compliance standards.
Despite the delisting, eToro continues to offer a wide range of digital assets for investment and trading, catering to the diverse needs of its global user base.
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