eToro Pays $1.5M SEC Fine, Limits US Crypto Trading to BTC, BCH, ETH
- eToro limits U.S. crypto trading to Bitcoin, Bitcoin Cash, and Ether post-settlement.
- SEC settlement pushes eToro toward compliance with U.S. federal securities laws.
- eToro’s case sets precedent for crypto platforms navigating U.S. regulatory framework.
eToro USA LLC has agreed to pay a $1.5 million penalty to the Securities and Exchange Commission (SEC) to resolve charges related to operating as an unregistered broker and clearing agency.
The SEC found that eToro’s platform facilitated trading in crypto assets considered securities without the necessary federal registrations. As a result, the company will cease trading in most crypto assets for its U.S. customers, only allowing Bitcoin, Bitcoin Cash, and Ether to be traded on its platform moving forward.
Unregistered Operations and Impact
Since 2020, eToro has been providing U.S. customers with the ability to buy and sell various crypto assets. However, the SEC determined that the company was operating as both a broker and a clearing agency without the required registrations. This violation prompted the charges and subsequent settlement.
In response, eToro has accepted a cease-and-desist order and w…
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eToro Pays $1.5M SEC Fine, Limits US Crypto Trading to BTC, BCH, ETH
- eToro limits U.S. crypto trading to Bitcoin, Bitcoin Cash, and Ether post-settlement.
- SEC settlement pushes eToro toward compliance with U.S. federal securities laws.
- eToro’s case sets precedent for crypto platforms navigating U.S. regulatory framework.
eToro USA LLC has agreed to pay a $1.5 million penalty to the Securities and Exchange Commission (SEC) to resolve charges related to operating as an unregistered broker and clearing agency.
The SEC found that eToro’s platform facilitated trading in crypto assets considered securities without the necessary federal registrations. As a result, the company will cease trading in most crypto assets for its U.S. customers, only allowing Bitcoin, Bitcoin Cash, and Ether to be traded on its platform moving forward.
Unregistered Operations and Impact
Since 2020, eToro has been providing U.S. customers with the ability to buy and sell various crypto assets. However, the SEC determined that the company was operating as both a broker and a clearing agency without the required registrations. This violation prompted the charges and subsequent settlement.
In response, eToro has accepted a cease-and-desist order and w…
The post eToro Pays $1.5M SEC Fine, Limits US Crypto Trading to BTC, BCH, ETH appeared first on Coin Edition.
Read More