The Securities Exchange Commission (SEC) announced that eToro USA LLC has agreed to pay a $1.50 million penalty to resolve allegations that it operated a crypto asset trading platform with an unregistered brokerage and clearing house. As part of the settlement, eToro has agreed to cease violating relevant federal securities laws and will offer only limited crypto asset trading.
According to the SEC order, since 2020, eToro has provided U.S. clients with the buying and selling of cryptoassets as securities transactions through its online trading platform, but has not complied with the registration requirements of the federal securities laws. eToro publicly announced that in the future, U.S. clients will only be able to trade Bitcoin, Bitcoin Cash, and Ethereum on its platform.
For other crypto assets, eToro will offer customers the ability to sell them within 180 days of the SEC order.
eToro's settlement with the SEC will provide only limited cryptoasset trading
2024-09-12 13:06:43
United states securities exchange commission sec announced etoro usa llcdesk3cryptocurrencydesktopCrypto News
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