EToro curtails new orders of SEC-deemed crypto securities for US customers

The tokens targeted include algorand (ALGO), decentraland (MANA), dash (DASH) and polygon (MATIC)


H.Ik.T/Shutterstock modified by Blockworks


The brokerage eToro is cutting off US customers from four crypto tokens newly deemed securities by the SEC. 

The market maker on Monday cited a “rapidly evolving regulatory landscape” in explaining the move. The four cryptocurrencies set to be removed from eToro’s platform are algorand (ALGO), decentraland (MANA), polygon (MATIC) and dash (DASH). 

The four were cited in varying capacities in the SEC’s lawsuits against Binance and Coinbase last week. 

Effective 6 am ET on July 12, US customers will not be able to purchase any additional amount of the four tokens. Users are set to retain the ability to “hold and sell existing positions in these coins,” the company tweeted. 

Loading Tweet..

The trading app — which partnered with Twitter in April to embed its real time data for crypto tokens — added it remains supportive of digital assets, but wants to work with regulators. 

“We are committed to working closely with regulators around the world to shape the future of the crypto industry,” the company tweeted. 

The brokerage removed support for cardano (ADA) for US customers back in December 2021 because of “business-related considerations.”

The most recent delistings from eToro come as Robinhood has been spooked into removing ADA, MATIC and solana (SOL) from its platform. The SEC has claimed each met the benchmarks for a security. 

Binance.US also discontinued several trading pairs last week, including ATOM/BTC and MANA/BTC.

Coinbase CEO Brian Armstrong told Axios last week that his company doesn’t plan to delist any of the crypto tokens named as securities by the SEC in its suit. They included SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH and NEXO. 

Coinbase Chief Legal Officer Paul Grewal said immediately after the lawsuit was made public that Coinbase plans to operate its business “as usual.”

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Unlocked by Template.png


With the spot ETH ETF approval, the institutions are coming. stETH - given its dominance in marketshare, existing liquid market structures, and highly desirable properties - is poised for institutions.


Launching cryptocurrencies the old fashioned way may soon make a return


Kraken and CertiK brought their beef to social media after Kraken said researchers exploited $3 million through a bug


NVIDIA’s historic run is only deepening the divide between mega-cap tech stocks and the rest of the market.


EIP-7702 was quickly adopted for the next Ethereum upgrade, but developers haven’t quite locked it down