Etoro imposes restrictions on four crypto-assets, which are marked in the second lawsuit as securities
Etoro imposes restrictions on four crypto-assets, which are marked in the second lawsuit as securities
The financial trade platform Etoro has published new guidelines that ban the purchase of four crypto-assets that were recently classified by the US stock exchange supervision SEC in complaints against coinbase and bony as securities.
While Etoro did not expressly cite the measures of the security supervisory authority as the reason for the recent changes in its crypto offer, it emphasized the "fast-developing regulatory landscape". This enables Etoro to join companies like Robinhood while the industry is confronted with the SEC enforcement hammer.
The latest update from Etoro
"We remain a supporter of crypto-assets and believe how important it is to offer our users access to a diversified range of investment classes, including stocks, ETFs and options."
At the beginning of the year, Etoro received a partnership with Twitter to enable users of the social media giant to access stocks, cryptocurrencies and other financial investments. However, she forced the latest procedure against this asset class to evaluate the regulatory environment in the country.
In a statement, the brokerage company confirmed its commitment to close cooperation with global regulatory authorities in order to "shape the future of the crypto industry and to promote access for normal investors".
increased control
This is not the first time that Etoro denies its US customers access to certain assets. According to the complaint against the blockchain company Ripple in December 2020, Etoro XRP decoted. A few months later, the company also stroked Cardano (ADA) and Tron (TRX) from "business -related considerations in the developing regulatory environment".
Development takes place a few days after another well -known trading company - Robinhood - has announced plans to stop support for Solana (Sol), Cardano (ADA) and Polygon (Matic).
Dan Gallagher, Chief Legal Officer from Robinhood, recently stated in front of the House of Representatives Agriculture Committee that the company had tried to register with the SEC as a special broker for digital assets, but was concluded by the authority without reasonable justification, even after it had gone through a 16-month process for the same.
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