eToro, the world’s leading online broker and investment platform announced that starting December 26th, 2021 they will be limiting TRON and Cardano (ADA) trading in the U.S due to the business-related considerations with the changing regulatory environment.
🚨For all those asking about the recently announced changes in our $ADA (Cardano) and $TRX (Tron) offering:
This 𝐨𝐧𝐥𝐲 applies to users in the USA.
More info here ⬇ https://t.co/9NMWZjCWSi
— Ask eToro Team (@eToroTeam) November 24, 2021
With this announcement, US-based users would not be able to open new positions or receive staking rewards, as this would be only applicable for users who are opening new positions in the eToro platform.
However, with this announcement eToro assured their U.S. customers that they will still be able to securely hold existing positions of TRX or ADA as they will still have the option to sell both tokens at any time to receive USD.
They also mentioned that U.S. customers would not be forced to sell their holdings particularly to users who use their popular social copy-trading and crypto trading feature of eToro.
About the staking feature for both TRX and ADA, customers in the U.S. will receive their final reward payout on January 15, 2022, and it would be paid in USD.
What is Cardano?
Cardano is a proof-of-stake blockchain platform and was founded by Ethereum co-founder Charles Hoskinson. They are known to be the largest cryptocurrency to use a proof-of-stake blockchain which is an alternative to the proof-of-work protocols.
In 2015, the development for Cardano began as well as their native token ADA and both were launched in 2017.
The Cardano blockchain is overseen by the Cardano Foundation which is a blockchain and cryptocurrency organization based in Zug, Switzerland.
What is eToro?
eToro is a leading online broker and investment platform which they became popular for its social and copy trading feature. Founded in 2007, they have users worldwide from over 140 countries and continue to grow to this day.
👀 We’re watching the crypto market. Are you?
— eToro (@eToro) November 23, 2021
The company provides access to 17 cryptocurrencies with low minimum fees to start investing and allows its users to match the trading activities of popular and expert traders.
US eToro users are limited to cryptocurrency trades while users in other countries can run multi-asset brokerages such as stocks, commodities, and forex trading.
eToro also has its own cryptocurrency wallet called the eToro wallet which is available for both Android and iOS users.
With the limitation of TRX and ADA on the eToro platform, we would like to know your thoughts about their recent announcement and share with us your suggestions that they could have done instead of limiting TRX to its popular online broker and investment platform soon.
For more news and updates, see Tron Spark.