SEC Jolts eToro Into Ditching Coins: What It Means For ALGO, MANA, DASH And MATIC

Social investing platform eToro will delist a selection of cryptocurrency tokens for its U.S. customers. What Happened: The company will no longer allow U.S. customers to open new positions in Algorand (CRYPTO: ALGO), Decentraland (CRYPTO: MANA), Dash (CRYPTO: DASH), and Polygon (CRYPTO: MATIC).

Timeline of Dash, Decentraland, Polygon

On June 10th, the MATIC price witnessed an intense sell-off and printed a long-red candle in the daily time frame chart. With this sell-off, the coin price breached yearly support of $0.687 and reached a low of $0.518.

Ethereum Layer-2 scaling solution Polygon (MATIC) has unveiled its Version 2.0, the blueprint for which will be revealed over the next few weeks. The layer-2 scaling solution is calling its latest iteration the “value layer of the internet.

Polygon Labs, a prominent player in the blockchain industry, has set the stage for excitement and anticipation with its recent announcement of a major ecosystem update, Polygon 2.0. The primary objective of this update, according to the company's statement, is to construct the value layer of the internet, an ambitious mission that has piqued the curiosity of crypto enthusiasts and industry insiders alike.

Yesterday, the Polygon crypto project announced a new version of its protocol, which will be introduced in the near future and is expected to completely change the understanding of how value is exchanged on the Internet.

Israeli multi-asset investment platform eToro announced that its users in the United States will soon be unable to access Algorand (ALGO), Polygon (MATIC), Decentraland (MANA), and Dash (DASH), following a similar move made by Robinhood.

Ethereum layer-2 solution provider Polygon has unveiled its vision for version two, a ‘Value Layer' of the internet. The ongoing protocol changes come at a tough time for Polygon, which has just seen its native token flagged as a security by the U.S. SEC.

On June 12, 2023, eToro US announced significant changes to its cryptocurrency offering for US customers in response to the rapidly evolving regulatory landscape. eToro, a social trading and multi-asset brokerage company, is renowned for its platform that enables users to observe, copy, and execute their own trades.

Leading retail trading platform eToro has announced a temporary halt on the purchase of four cryptocurrencies, Algorand (ALGO), Decentraland (MANA), Polygon (MATIC), and Dash (DASH), for its customers in the United States. The decision comes in response to recent lawsuits by the United States Securities and Exchange Commission (SEC) that label these tokens as securities.

The social trading and investment company Etoro declared on Monday that starting July 12, 2023, U.S. customers would be unable to initiate new trades for ALGO, MANA, DASH, and MATIC. The company cited the “rapidly evolving regulatory landscape” as the reason behind the delistings.

Ethereum's Layer-2 scalability platform Polygon recently faced major headwinds as the SEC named its native cryptocurrency MATIC, a security. But looking past that, the Polygon team has recently unveiled Polygon 2.0 to build the Value Layer of the Internet.