Mo.bi - Crypto Currency Tracker logo Mo.bi - Crypto Currency Tracker logo
Seeking Alpha 2021-11-24 16:50:29

eToro to limit Cardano, TRON for U.S. users amid regulatory concerns

Israel-based crypto trading platform eToro (ETORO) is going to limit users in the U.S. from opening new positions in Cardano (ADA-USD) and TRON tokens starting on Dec. 26 of this year, the company says in a release. Cardano (ADA-USD), the sixth largest crypto by market cap, declines 8.5% intra-day and nearly 13% in the past week as Bitcoin (BTC-USD) struggles to find near-term upside momentum, changing hands at $56.5K per token. TRON is also down more than 5% so far on Wednesday. "These changes are due to business-related considerations in the evolving regulatory environment," the company notes. Users will still be able to close existing positions, as well as hold on to existing positions of the two coins. However, in Q1 of 2022, the company plans to limit the selling of holdings as well, which won't happen for at least 30 days after it offers support for redeeming Cardano (ADA-USD) and TRX coins to the eToro Money

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.