Cryptocurrency-friendly investment firm eToro has suspended the buying and selling of Algorand (ALGO), Decentraland (MANA), Polygon (MATIC) and Dash (DASH) to US customers as SEC equated them with securities.
From 6:00AM ET on Wednesday July 12th, 2023, US customers will no longer be able to open new positions in Algorand (ALGO), Decentraland (MANA), Dash (DASH) and Polygon (MATIC). Customers can continue to hold and sell existing positions in these coins. (2/5)
— eToro US (@eToroUS) June 12, 2023
Representatives of the US division of the firm noted that they revised the lists of available cryptocurrencies “in light of the rapidly changing regulatory framework.”
The assets were delisted on June 12, however, users can still hold and sell the remaining coins.
“We remain committed to cryptocurrencies and believe in the importance of providing our users with access to a diversified range of assets, including stocks, ETFs and options. We are committed to working closely with regulators around the world to shape the future of the crypto industry and ensure access to it for ordinary investors,” the company said.
Some users notedthat eToro has not removed Solana’s native token, which the SEC has also designated as a security. The firm later clarified that SOL was not part of the American division’s offering.
On June 5, the SEC sued Binance and CEO Changpeng Zhao. The regulator brought 13 charges, including the sale of unregistered securities. Later, the Commission filed a similar lawsuit against the Coinbase exchange.
Recall that due to litigation, the online broker Robinhood will stop supporting the Cardano (ADA), Polygon (MATIC) and Solana (SOL) cryptocurrencies from June 27.
Representatives of Polygon and Solana criticized the SEC’s approach to classifying their platform tokens.
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