eToro Halts Crypto Trading in Settlement with US SEC
Friday, 13 September 2024, 07:33
Overview of eToro's Settlement with US SEC
eToro will stop offering nearly all cryptocurrencies to its customers as part of a settlement with the US Securities and Exchange Commission. The settlement requires eToro to pay a penalty of $1.5 million.
Details of the Settlement
- eToro accused of operating as an unregistered broker.
- Only Bitcoin, Bitcoin Cash, and Ether will remain available for trade.
- The SEC emphasized the importance of regulatory compliance.
Future Implications for eToro and Cryptocurrency
With the settlement, eToro aims to realign its operations, focusing on compliance and innovation in the US market. This decision will likely influence other crypto platforms navigating similar regulatory challenges.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.