Hard hit for Cardano, who will be excluded from eToro!

eToro will delist Cardano from its platform in 2022 for US users due to regulatory concerns. This decision came as a surprise to some users, as ADA has not been in the sights of regulators lately.

In a statement to clients Tuesday, cryptocurrency exchange eToro announced that it will phase out Cardano (ADA) and Tron (TRX) for US clients by the end of the year.

After December 31, US users will no longer be able to open new token positions or bet on ADA and TRX. In addition, the wallets will be in withdrawal mode only until the first quarter of 2022, where sales will also be limited. In making the move, eToro invoked regulatory concerns around the two assets.

This decision came as a surprise, as the ADA is not traditionally associated with regulatory affairs. At its core, tokens like XRP, whose creators are currently involved in an ongoing lawsuit with the Securities and Exchange Commission, or SEC, as well as Monero, which is a privacy coin that some fear can be easily used. purposes, they face the brunt of regulatory scrutiny in the cryptocurrency industry.

ADA has seen a rapid rise in price this year and is currently in the top 10 cryptocurrencies in terms of market capitalization. In the previous quarter, Charles Hoskinson, founder of Cardano, announced a partnership with blockchain analytics provider Confirm to comply with regulatory frameworks such as anti-money laundering guidelines.

Businesses active in the blockchain industry often come under pressure from regulators when it comes to delisting currencies or disconnecting certain services. However, for now, the rise of decentralized exchanges and decentralized financial protocols has provided popular alternatives for those looking to legally circumvent these measures.

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