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)

article-image

H.Ik.T/Shutterstock modified by Blockworks

share

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.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates.png

Research

The convergence of DePIN and energy generation aims to address modern grid challenges by incentivizing distributed generation.

article-image

Togo activist Farida Nabourema is fighting back with Bitcoin

article-image

Roshan Robert told Blockworks that OKX brought him on back in September to plan out its US expansion

article-image

Could we stop using BTC to amplify our short-term risks — and start using it to hedge our long-term ones?

article-image

Sol Strategies will be the tokenized stock platform’s first listing

article-image

Craig Fuller, CEO and founder of FreightWaves, breaks down how tariffs are and will impact shipping and inventories

article-image

This limited-edition run of sparkling water is more for existing traders than crypto newcomers, but mainstream distribution is part of the plan.