Cardano and Tron and Tron will be dropped from the eToro Trading app Cardano (ADA), and Tron (TRX) will be removed from eToro’s listings before the end of the year.
Users of eToro will be affected by the policy in December
Beginning on December 26, eToro users will be unable to create positions in certain cryptocurrencies due to the new policy.
Users will also no longer be able to obtain staking incentives for the two coins after December 31.
As per an eToro policy change made on Tuesday, these limits would only apply to users in the United States.
The delistings were based on business-related factors related to regulations although the corporation did not specify which rules affected its decision.
Regulatory action has not been taken against TRX or ADA. It’s conceivable that eToro’s decision was influenced by new reporting rules for crypto brokerages in the United States, but this doesn’t explain why TRX and ADA were singled out.
The Cryptocurrency Market Remains Mostly Unaffected
Despite early claims that each token had suffered losses, both had recovered by the time this article was written. Both ADA and TRX have gained around 0.5 percent in the previous 24 hours at 3:30 p.m. PST on Nov. 25.
Given Cardano’s position among the top six cryptocurrencies, other exchanges are unlikely to follow eToro’s example and delist it. TRX ranks 32nd in market capitalization, although it does not seem to be a target for delistings.
In reality, both currencies have just been added to new exchanges. On Wednesday, Bitstamp offered Cardano’s ADA coin, while Deutsche Börse listed Tron’s TRX ETN in September.
Additionally, since eToro is largely a stock trading program with cryptocurrency features, its regulatory worries may differ from those of specialized cryptocurrency exchanges.