eToro to limit Cardano, TRON for U.S. users amid regulatory concerns

Israel-based crypto trading platform eToro (ETORO) is going to limit users in the U.S. from opening new positions in Cardano (ADA-USD) and TRON tokens starting on Dec. 26 of this year, the company says in a release. Cardano (ADA-USD), the sixth largest crypto by market cap, declines 8.5% intra-day and nearly 13% in the past week as Bitcoin (BTC-USD) struggles to find near-term upside momentum, changing hands at $56.5K per token. TRON is also down more than 5% so far on Wednesday. "These changes are due to business-related considerations in the evolving regulatory environment," the company notes. Users will still be able to close existing positions, as well as hold on to existing positions of the two coins. However, in Q1 of 2022, the company plans to limit the selling of holdings as well, which won't happen for at least 30 days after it offers support for redeeming Cardano (ADA-USD) and TRX coins to the eToro Money