eToro agrees to pay $1.5 million to settle with the SEC and will cease most cryptocurrency trading activities

2024-09-12 21:07:03

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ChainCatcher News, the U.S. Securities and Exchange Commission announced today that eToro USA LLC has agreed to pay $1.5 million to settle allegations in Hong Kong that it operated unregistered brokers and unregistered clearing agencies on its trading platform, facilitating the buying and selling of certain crypto assets as securities. eToro has agreed to cease violations of applicable federal securities laws and will only offer limited crypto assets for trading.

eToro publicly announced that going forward, in accordance with the U.S. Securities and Exchange Commission (SEC) order in this matter, the crypto assets that U.S. customers can trade on the company's platform will be Bitcoin, Bitcoin Cash, and Ethereum, and it will provide its customers with the ability to sell all other crypto assets within 180 days of the SEC order being issued.

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eToro Social trading and multi-asset investment company