eToro to Limit Cardano and Tron for Users in the US

by in Cryptocurrency News

eToro Cardano Tron

Crypto brokerage company eToro informed about limiting Cardano's ADA and Tron's TRX tokens for the people from the US. In the post, published by the company, the eToro team says the reason is regulatory concerns.

Related: Cardano Block Size to Become 12.5% Larger

From December 26, users in the U.S. won't be able to create new positions for the two crypto assets. Later, on December 31, the staking service will be closed. The final staking reward payout will take place on January 15, 2022. Users will need to move their funds before the exchange closes positions. eToro said they will be notified 30 days earlier.

The founder of Cardano, Charles Hoskinson commented on the news, saying that there is no global, regulatory structure for cryptocurrencies and that a systematic lack of clarity has consequences.

He pointed out that while a mid-size exchange eToro restricted ADA, Bitstamp, which has a much larger volume listed the token. Hoskinson said Cardano Foundation gets a lot of questions from exchanges and provides direct communication with developers for some cases. However, eToro didn't reach out to the company.

Hoskinson mentioned that Cardano didn’t face any warnings from any regulatory agency and eToro’s step was surprising. He added getting listed on some exchanges and restrictions from others is how things work.

Both cryptos, ADA and TRX decreased in price in the last 24 hours. Currently, ADA trades at around $1.66 and TRX at $0.09918.