eToro ending US customers’ access to four cryptocurrencies eToro ending US customers’ access to four cryptocurrencies
Starting in July, U.S. users won't be able to invest in DASH, MANA, ALGO, and MATIC.
1 min read
Updated: Jun. 12, 2023 at 9:45 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Stock and crypto trading platform eToro said in a June 12 email shared with CryptoSlate that it would limit access to certain crypto positions for users in the U.S.
In its message, eToro said that users based in the U.S. would not be able to open new positions in Algorand (ALGO), Decentraland (MANA), Dash (DASH), and Polygon (MATIC) after 6:00 a.m. ET on July 12, 2023.
It said that U.S. customers would be able to hold and sell positions in those assets they had already opened. It added that non-U.S. customers would not be affected by the change.
The company cited regulations as the reason for its decision, noting that it has acted due to “recent developments” in a “rapidly evolving regulatory landscape.”
Though eToro did not state which regulatory developments are of concern, all four affected cryptos were named in lawsuits that the U.S. Securities and Exchange Commission (SEC) filed against Coinbase and Binance beginning on June 5.
Several other cryptos were also named in those cases but were not named in eToro’s announcement or were not supported by eToro to begin with.
Generally, eToro is considered a trading platform. It allows users to close open crypto positions and withdraw their balance in cash or cryptocurrency, whereas most standard cryptocurrency exchanges offer direct trading of cryptocurrencies.
Mentioned in this article
Author 
Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.
Editor Editor 
Zaeem Shoaib Zuberi
Zaeem, an editor fascinated by business, finance, DeFi, and cryptocurrencies, holds a business and finance degree. His 14-year career in financial journalism spans sectors like banking, finance, insurance, and tech.
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