eToro to restrict U.S. crypto trading after SEC settlement, pay $1.5 million fineBitcoin, bitcoin cash, and ether will still be available for trading on the platform, however.
Israeli trading platform eToro has reached a settlement with the U.S. Securities and Exchange Commission (SEC), under which it agreed to a $1.5 million penalty and plans to limit access to the majority of its crypto trading to U.S. customers. 

The SEC claimed that since 2020, eToro was operating as an unregistered broker and unregistered clearing agency, and was selling crypto in violation of U.S. federal securities rules.

“It is important for us to be compliant and to work closely with regulators around the world," eToro CEO Yoni Assia said in response to the SEC settlement. "We now have a clear regulatory framework for crypto-assets in the U.K. and Europe and we believe we will see similar in the U.S. in the near future. Once this is in place, we will look to enable trading in the crypto-assets that meet this framework.”

While U.S. customers will no longer be able to trade most crypto assets on eToro, the company said that bitcoin, bitcoin cash, and ether will still be available for trading. The company currently has more than 35 million users across over 100 countries.

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