eToro to delist ADA, TRX for US users over regulatory concerns
November 23, 2021, 2:27PM EST
1 min read
eToro is delisting Cardano and TRON for stateside users, according to a new post from the exchange.
Starting Dec. 26, U.S. users won't be able to open new ADA or TRX positions, and by Dec. 31, staking for the assets will no longer be available. eToro cited "business-related considerations in the evolving regulatory environment" in its decision.
Staking reward payouts for U.S. users will end after Jan. 15, 2022, with the final rewards paid in USD.
Still, U.S. users will be able to hold existing positions of ADA and TRX and those positions can be closed at any time with the assurance that they will pay out in USD. Users won't be forced to sell their positions at this time, and eToro said it has no plans to force selling.
Any holdings as a result of the exchange's "Smart Portfolio," an automated portfolio, will be converted to open positions in the personal portfolio so the user can personally decide whether to hold or sell.
However, eToro will limit the selling of holdings in Q1 of 2022, according to its blog post. It plans to make its eToro Money crypto wallet, rolling out in 2022, compatible with the assets so that users can move their holdings there.
The blog post said the limiting of sales won't happen for at least 30 days after offering support for redeeming ADA and TRX to the wallet. The wallet will continue to support the assets even after U.S. users can no longer sell their holding for USD.
A trio of political parties in Germany struck an agreement this week that will see them assemble a national governing coalition. Part of that agreement, according to the German-language text, includes a call for European countries to work together to monitor activities in the crypto sector.