Israeli investment firm eToro will remove tokens for US investors, which were highlighted in the lawsuits of the US stock exchange regulator.
Social investment broker eToro will be phasing out support for algorand (ALGO), decentraland (MANA), DASH and polygon (MATIC) for US clients. About this company reported on my own Twitter.
https://twitter.com/eToroUS/status/1668323758199955456
Users can still store the above tokens on the site or sell them. The purchase of tokens for American investors will be curtailed on July 12. For other eToro customers, tokens will continue to be available for purchase. The broker said he made the decision in light of the rapidly changing regulatory landscape in the US.
Recall that the US Securities and Exchange Commission (SEC) in lawsuits against crypto exchanges Coinbase and Binance listed a number of tokens that, in its opinion, are securities. These included ALGO, MANA, sandbox (SAND), DASH, cardano (ADA), solana (SOL) and others. Bitcoin (BTC) and ether (ETH) cryptocurrencies have not been highlighted in lawsuits. In total, more than six dozen different tokens can be securities, forming approximately 10% of the total market capitalization.
Developers Polygon and Solana have already responded to SEC claims. Polygon Labs claims that the MATIC token was developed outside the United States and does not fall under the responsibility of the American regulator. The Solana Foundation did not deny the project’s links to the US, but said it welcomes “the continued engagement of policy makers as constructive regulatory partners to bring legal clarity on these issues to the thousands of US entrepreneurs building in the digital asset space.”
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