eToro Announces Cardano (ADA) And Tron (TRX) Delisting, Points To Regulatory Concerns

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	10,577,840,815	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

10,577,840,815

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.000868	0.73%	0.120234	0.120264	0.120289

Price Change

Price Change %

Current Price

Bid Price

Offer

0.000868

0.73%

0.120234

0.120264

0.120289

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.12094	0.117013	0.119366	0.119366	0.064588 - 0.144371

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.12094

0.117013

0.119366

0.064588 - 0.144371

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	00:35:32	226.80	0.120234	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

00:35:32

226.80

0.120234

USD

Price x Volume	Volume	Base Symbol	Related Pairs
240,477.22	2,011,909.96	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

240,477.22

2,011,909.96

eToro Announces Cardano (ADA) And Tron (TRX) Delisting, Points To Regulatory Concerns

23/11/2021 3:43pm

NEWSBTC

Crypto exchange eToro has just announced that it is delisting two major cryptos from its platform. As regulatory concerns grow, crypto exchanges have found themselves bearing the brunt of the weight and have had to take steps to avoid this. This has led to the delisting of cryptocurrencies from crypto exchanges in order to maintain compliance with the regulatory environment. The latest of the exchanges that have been bucking under the weight of regulatory concerns is eToro. On Tuesday, the exchange announced via a blog post that it will be delisting community favorites Cardano (ADA) and Tron (TRX). Users of the crypto exchange also received emails informing them of the latest development. Related Reading | Kraken Is Delisting Top Privacy Coin Monero (XMR) For UK Users eToro Limits Access For US Users According to the announcement, US users are the core user base that will be affected by the delisting of the coins. In what looks to be a multi-phase delisting, eToro is limiting access to these digital assets for users in the United States on December 26th, 2021. The first phase of this is preventing US users from opening up new positions in Cardano (ADA) and Tron (TRX). While users will still be able to close their positions, they will not be allowed to open new ones. In addition, eToro will also remove staking features for US users for both Cardano (ADA) and Trong (TRX), with final reward payouts happening on January 15th, 2022. ADA price drops to $1.8 | Source: ADAUSD on TradingView.com The statement cited the “evolving regulatory environment” as the reason behind the delistings. This is in line with Kraken delisting privacy coin Monero for its UK users. The crypto exchange had also stated regulatory concerns for the move. How Will This Affect ADA And TRX Holders? The blog post explained that Cardano (ADA) and Tron (TRX) holders will still be able to hold both assets on the exchange following the delisting. Furthermore, they will be able to sell their positions for USD. However, this, too, has an expiry date as it stated that the selling of both assets will also be limited in the first quarter of 2022. Related Reading | Cardano Founder Reiterates Long-Term Purpose Amid Sell-Off Panic For users invested in Smart Portfolios that contain either or both of these assets, eToro will convert them to open positions, which the user can choose to hold or close. Users whose portfolios copy others will be subjected to the same action taken on the portfolio being copied. So if the latter sells their Cardano (ADA) and Tron (TRX), then the assets in the copying portfolio will also be sold. Finally, users will still be able to send their holdings to the eToro Money crypto wallet past the deadline for selling and will not be forced to sell any of their holdings in either asset. Featured image from Time.com, chart from TradingView.com

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