eToro Gains CySEC Registration for EU-Wide Crypto Services
Leading brokerage firm eToro has achieved a significant milestone by securing Crypto Asset Service Provider (CASP) registration from the Cyprus Securities and Exchange Commission (CySEC). This registration will empower eToro to offer regulated crypto services to all European Union (EU) countries from a single entity, eToro Europe Digital Assets, once the EU’s Markets in Crypto-Assets Regulation (MiCA) becomes effective in December 2024.
The approval of this registration underscores eToro’s readiness to embrace the evolving crypto landscape with MiCA on the horizon. Dr. Hedva Ber, Deputy CEO at eToro, highlighted the importance of this development, emphasizing that Europe holds immense significance for eToro, given that the majority of its users are based in the region. eToro’s commitment to offering European investors direct access to a diverse range of crypto assets as part of their investment portfolio is unwavering. The newly obtained CySEC registration will enable eToro to streamline and enhance its offerings for European investors interested in trading with crypto assets.
eToro is no stranger to regulatory oversight, being authorized and supervised by several regulatory authorities across the globe, including the FCA (UK), ASIC (Australia), GFSC (Gibraltar), FinCen, and FINRA (United States). The company has also registered as a digital asset provider with various local authorities, such as The Bank of Spain and the AMF (France).
This strategic move to secure CySEC registration aligns with eToro’s commitment to maintaining regulatory compliance while expanding its crypto services globally. Notably, the firm recently partnered with Elon Musk’s X (formerly Twitter) to facilitate crypto and stock trading on the social media platform.