• eToro will delist ALGO, MATIC, MANA, and DASH for US customers.
• The move is in light of recent developments by the SEC classifying these tokens as securities.
• Similar actions have been taken by Robinhood and other trading platforms in the US to avoid regulatory issues.

Etoro Delisting Major Cryptocurrencies

eToro is an Israeli multi-asset investment platform widely known for social trading. The platform has announced that it will be delisting four major cryptocurrencies – ALGO, MATIC, MANA and DASH – from its offering for US customers starting July 12th 2023. US customers can still hold and sell already open positions in these tokens however. This move comes in light of recent developments by the SEC classifying these tokens as securities.

Impact on Non-US Customers

eToro claims that this new change won’t have an impact on non-US customers and that they can continue to hold and sell any open positions in these tokens without any restrictions or changes to their accounts.

Other Platforms Making Similar Changes

This move by eToro comes shortly after a similar one by Robinhood in June where they declared they would be removing SOL, MATIC and ADA from their platform due to their “latest review” of the situation regarding the SEC’s recent enforcement strategy towards cryptocurrencies. It seems likely that more businesses may follow suit with taking similar actions in order to avoid any potential further negative impact on users based in the US.

SEC Lawsuit Against Coinbase & Binance

eToro makes no mention of the SEC lawsuit against two largest cryptocurrency exchanges Coinbase & Binance however it could be argued that this latest move may be related to it as part of a larger effort on their behalf to remain compliant with all relevant regulations set out by the authority figure when it comes to cryptocurrencies operating within American borders.

In conclusion, eToro has made a decision to delist certain cryptocurrencies from its offering for US customers due to recent developments involving the Securities Exchange Commission (SEC). They are not alone as other platforms such as Robinhood have followed suit as well hoping to mitigate any potential risks associated with operating within America’s current legal framework when it comes digital assets like Bitcoin & Ethereum etc..

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