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)
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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).
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.
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.
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.”
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