Cardano (ADA) And Tron (TRX) Will Be Delisted From The EToro Crypto Exchange, Why?

Crypto Cardano and Tron Will Be Delisting from eToro (BitcoinExchangeGuide)

JAKARTA – Israeli crypto trading company, eToro has officially announced plans to remove Cardano (ADA) and Tron (TRX) for users in the US by the end of 2021.

Automatically users of the eToro platform in the US will not be able to open new positions to trade ADA and TRX after December 31st. In addition, owners of both cryptocurrencies can withdraw funds until the first quarter of 2022.

eToro's decision is quite surprising to various parties, because ADA is not bound by regulatory issues. ADA's conditions are different from Ripple (XRP) which was sued by the US Securities and Exchange Commission (SEC). Monero (XMR) is also being watched by regulators as the coin is being used for illicit purposes.

Previously, Cardano founder Charles Hoskinson announced a partnership with blockchain analytics provider Confirm to comply with regulatory frameworks such as anti-money laundering directives. This collaboration has received a positive response from ADA supporters who expect the project to be more decentralized.

Companies operating in the blockchain industry often come under intense scrutiny from regulators when it comes to removing coins or pulling the plug on certain services.

In September, one of the largest crypto exchanges in the US, Coinbase, canceled its crypto lending services due to pressure from the SEC. However, the emergence of decentralized exchanges and decentralized financial protocols has provided an alternative to these pressures.

In 2021, ADA is experiencing a very fast price increase. Crypto ADA now occupies the fifth position after BTC, ETH, BNB, and SOL by market capitalization. At the time of writing, data from Coinmarketcap reports the price of ADA is trading at Rp.23,945.