eToro Halts Most Crypto Trading for U.S. Users in $1.5 Million SEC Settlement 🚨
#eToro , a retail trading platform, has agreed to halt almost all cryptocurrency trading for its U.S. customers as part of a $1.5 million settlement with the U.S. Securities and Exchange Commission (SEC).
The SEC accused eToro of operating as an #unregistered broker and clearing agency by offering crypto assets considered securities since 2020. eToro will now only allow trading of Bitcoin, Bitcoin Cash, and Ethereum, while customers have 180 days to sell other tokens.
The settlement reflects the company's focus on compliance and investor protection. Meanwhile, the #SEC continues legal battles with other crypto platforms over the classification of cryptocurrencies as securities.
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