eToro to suspend ADA, TRX trading for US users, cites regulatory concerns

Israeli-based crypto exchange eToro is suspending trading of Cardano (ADA) and Tron (TRX) for its US users from December 26, 2021, the exchange said via a blog post on Tuesday.

Citing regulatory concerns, eToro would disallow US clients from opening new positions or receiving staking rewards for crypto assets of Cardano and Tron. On the other hand, clients can still hold their existing positions without any time-bound to sell them.

The company will end the staking for the assets starting December 31, 2021, and the final reward payout is scheduled for January 15, 2022. In addition, staking rewards will be paid in USD instead of the actual currencies.

eToro said the suspension was due to “business-related considerations in the evolving regulatory environment,” but did not go into detail.

Founded in 2007, eToro is a global investment platform that supports several cryptocurrency stocks and also offers services that allow users to invest in a wide variety of assets, including shares and ETFs.