eToro to delist Cardano by 2022 for US users

In a statement released to customers on Tuesday, Israeli cryptocurrency exchange eToro announced it would delist Cardano (ADA) and Tron (TRX) for United States customers by the end of the year.

After Dec. 31, U.S. users will no longer be able to open new positions in the tokens nor stake ADA and TRX. In addition, wallets will be effectively in withdraw-only mode until the first quarter of 2022, when selling will also become limited. In making the decision, eToro cited regulatory concerns surrounding both assets.

The move came as a surprise to some as ADA has not been traditionally associated with regulatory troubles. In context, tokens like Ripple (XRP), whose creators are currently engaged in an ongoing lawsuit with the Securities and Exchange Commission, or SEC, as well as Monero, which is a privacy coin that some fear is easily abused for illicit purposes, are facing the brunt of regulatory scrutiny in the cryptocurrency industry.

In such situation, privacy coin like Crypton can be a good way out. It has own no KYC decentralized exchange and there are no restrictions or prohibitions on use by citizens of the United States or other countries. And this will be one of a few possibilities to continue using privacy coins. As I've heard some rumors that other exchange pairs are planned to be added to their exchange.