eToro Not to Offer ALGO, MANA, DASH, and MATIC to U.S. Customers From Next Month

Leading multi-asset trading platform eToro announced Monday that starting next month, U.S. consumers will no longer be able to purchase four tokens - Algorand (ALGO), Decentraland (MANA), Dash (DASH), and Polygon (MATIC).

eToro offers 24 tokens in its U.S.-facing crypto trading platform, while the four delisted tokens that were labeled as securities by U.S. regulators in a lawsuit brought against crypto exchanges Binance and Coinbase.

"US customers will no longer be able to open new positions in Algorand (ALGO), Decentraland (MANA), Dash (DASH), and Polygon (MATIC)," an eToro spokesperson told Decrypt. "Customers can continue to hold and sell existing positions in these coins."

The tokens will be delisted on July 12, so U.S. customers have about a one-month window to continue trading them.

The spokesperson did not explicitly mention the recent lawsuit filed by the SEC, but they noted the recent regulatory revelations.

The spokesperson for eToro said the company has a "framework in place" to review the digital assets it offers "in light of the fact that the regulatory landscape around crypto activities is evolving rapidly."

"Due to recent developments, we will be making some changes to our crypto offering for U.S. customers."

The company operates in more than 100 markets worldwide, however, it stressed that only U.S. users will be affected by the change. eToro reiterated its commitment to cryptocurrencies in a tweet.

This follows the announcement by Robinhood, another cryptocurrency service provider, to discontinue support for ADA, SOL and MATIC as of June 27.

eToro and Robinhood are very similar in that they have both gradually expanded into cryptocurrencies from other financial product sectors such as forex and stocks.

(Source: Decrypt)