According to the team of eToro The measure is for commercial purposes, since regulatory provisions in the US compromise the commercialization of certain digital currencies.
The international platform for trading stocks and cryptocurrencies, eToro, recently announced that it will no longer support business operations with Cardano (ADA) and TRON (TRX) for customers residing in the US.
eToro suspend commercial operations with Cardano and TRON In U.S.A
According to a post published on the company’s official blog, the team of eToro It indicated that the decision is mainly due to commercial reasons, in which the regulatory measures and provisions applicable to customers residing in the North American nation had some weight.
Therefore, the suspension of commercial activities will come into effect as of December 26, 2021, giving users a deadline to close their operations until December 31 of the same year. This means that from the first date no commercial operations can be opened, while by the last date all those that were active should have closed.
Regarding the destination of the funds, the team of eToro indicated that the people who are affected by the measure will still be able to keep their funds ADA and TRX if they wish, or on the contrary, they could exchange them for US dollars if they prefer.
Expanding the cryptocurrency catalog and expanding operations
Although operations with ADA and TRX will be suspended, the platform indicated that it will be incorporating more digital currencies for all its users internationally.
Recently, eToro announced the expansion of its trading services with cryptocurrencies to users residing in Australia, while also reporting on the incorporation of 15 new digital currencies, among which tokens such as Solana (SOL), Dogecoin (DOGE) and Shiba Inu (SHIB).
However, it is not surprising that customers in the US are the main affected by regulatory measures, since legal provisions have caused many international exchanges to suspend their services in the country or choose to withdraw support for some cryptocurrencies that do not go hand in hand with applicable statutes.
Version by Angel Di Matteo / DailyBitcoin
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