eToro to Delist Cardano and TRON in U.S. Soon
"We still offer a large range of crypto assets on eToro and hope to add new crypto assets in the future. Above all, we are disappointed to take this step," the exchange says.
"We still offer a large range of crypto assets on eToro and hope to add new crypto assets in the future. Above all, we are disappointed to take this step," the exchange says.
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eToro has announced that it plans to delist Cardano by the end of the year for its U.S. customers.
The exchange says its users will no longer be able to purchase ADA from December 26, and staking rewards will be discontinued from December 31.
Customers will still be able to hold ADA, but selling on the trading platform is going to be restricted in the first quarter of 2022.
An "evolving regulatory environment" has been blamed for the restrictions — and TRON is also affected by this announcement. The company's statement added:
"We still offer a large range of crypto assets on eToro and hope to add new crypto assets in the future. Above all, we are disappointed to take this step. eToro will continue to be active supporters of the crypto ecosystem."
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Hoskinson Reacts
Cardano founder Charles Hoskinson said a "systemic lack of clarity" was affecting the crypto industry — and pointed out that, while eToro is delisting ADA, Bitstamp, a far larger exchange in terms of trading volume, is adding the coin to its platform.
He used another analogy to describe the confused state of regulation around the world. While XRP is regarded as a security in the U.S., it's treated as a currency in Japan.
Hoskinson said it was "unfortunate" that eToro hadn't reached out to discuss its concerns before delisting ADA, but added that the Cardano Foundation will be reaching out to contact the platform and "better understand" the reasons behind its decision. He added:
"It has no meaningful impact on the liquidity of ADA — billions of dollars of turnaround every day … This is just the nature of the game, liquidity comes and goes. Some people like it, some people don't because they don't get enough volume or customer interest. And then obviously everybody has different regulatory thresholds."
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