In a statement Released For customers on Tuesday, Israeli cryptocurrency exchange eToro announced that it would cancel Cardano (Have) And Tron (TRX) to provide services to American customers before the end of the year.
After December 31, U.S. users will no longer be able to open new positions in the tokens, nor can they pledge ADA and TRX. In addition, the wallet will effectively be in withdrawal-only mode until the first quarter of 2022, when sales will also be restricted. In making its decision, eToro cited regulatory concerns surrounding these two assets.
This move surprised some people because the ADA has traditionally been unrelated to regulatory issues. In context, like Ripple (Ripple) Whose creator is currently engaged in Ongoing litigation with the Securities and Exchange Commission, Or SEC, and Monero, which is a privacy coin Some fears are easily abused for illegal purposes and are facing the impact of regulatory review in the cryptocurrency industry.
ADA has gone through Price increase this year too fast Currently ranking top 10 cryptocurrencies by market capitalization. In the last quarter, the founder of Cardano, Charles Hoskinson (Charles Hoskinson) Announce cooperation Confirm with the blockchain analysis provider to comply with regulatory frameworks, such as anti-money laundering directives. This move has been criticized by some ADA supporters, who hope that the project will have a more decentralized nature.
Companies operating in the blockchain industry are often subject to tremendous pressure from regulators when they delist tokens or unplug certain services. In September, Coinbase Abandoned its crypto lending platform plan After the US Securities and Exchange Commission threatened to sue the company. However, for now, The rise of decentralized exchanges and decentralized financial agreements A popular alternative is provided for those who wish to legally bypass such strikes.