ADA And TRX To Be Delisted From eToro
eToro, one of the world's leading brokerage platforms, announced yesterday that it would delist Cardano (ADA) and Tron (TRX) for its US users due to regulatory concerns. The brokerage platform made this known in a blog post published a few hours ago.
The broker said, "eToro will be limiting ADA and TRX for users in the US. These US users will no longer be able to open new positions in, or receive staking rewards for, Cardano (ADA) and TRON (TRX). You will still be able to close existing positions as you see fit."
Following this latest development, US users on eToro will no longer be able to open new ADA or TRX positions starting on December 26, 2021. Furthermore, staking services for these coins will be discontinued starting from December 31. "These changes are due to business-related considerations in the evolving regulatory environment," eToro added.
Despite the changes, eToro said U.S. users would be able to hold existing positions of ADA and TRX, and those positions can be closed at any time they will be paid in USD. Users won't be forced to sell their positions at this time, and eToro said it has no plans to force selling.
The regulatory environment in the United States differs from most countries, and crypto exchanges and brokers change their offerings to ensure that they don't get in trouble with the regulators.
XRP was discontinued by virtually all US-based crypto exchanges and trading platforms after the SEC vs. Ripple legal battle began late last year. eToro is the first platform to delist ADA and TRX in the United States, and it is unclear if more exchanges and brokers will follow the same path.