eToro referenced “recent developments” as the basis for the decision, referring to the SEC’s lawsuits against Coinbase and Binance and the regulator’s decision to recognize certain cryptocurrencies as securities.
In response to new lawsuits filed by the U.S. Securities and Exchange Commission (SEC), social investment platform eToro will delist a number of crypto tokens for its U.S. clients in a month.
Algorand (ALGO), Decentraland (MANA), Dash (DASH), and Polygon (MATIC) tokens will no longer be available for new positions to be opened by customers in the US as of July 12, according to eToro’s announcement on Monday.
Customers will nevertheless be able to keep and liquidate their current positions in these tokens.
The cryptocurrency site cited “recent developments” as the cause of the shift, pointing to the SEC’s lawsuits against Coinbase and Binance as well as the regulator’s listing of some cryptocurrencies as securities.
The platform is following Robinhood (HOOD), which last week delisted Cardano’s ADA), Solana’s SOL, and MATIC, by adopting this decision.