Cardano’s native token, ADA will be delisted from eToro exchange due to regulatory issues. This will bring more selling pressure. So, is Cardano a security? Well, the easiest way to classify a cryptocurrency as security if it has a CEO.
Chales, creator of Cardano has referred himself as CEO of IOHK, and this certainly does not sounds very decentralized for sure. IOHK is a private company that builds software on Cardano. Cardano Foundation is a separate entity with its own President. He is CEO of IOHK and the Cardano foundation handles interaction with exchanges etc.
Also, no hate for Cardano. They need to deliver. So far it’s been empty promises by the so called CEO Charles.
People should note that Cardano and Tron were the only coins for which eToro offered staking. This appears to be a preemptive move because of concerns regarding regulation of staking and not so much the underlying cryptos per se.
Keep in mind Cardano has not been completely delisted as people from other parts of world can still buy and sell ADA and Trx, native token of Tron. The exchange, eToro only restricted US persons from trading ADA.
I am from Brisbane, Queensland and I hold post of Associate Editor at Cryptocoindaddy.