eToro, the popular trading and investing platform, has announced that it has received approval for its application to register under the CySEC CASP (Crypto Asset Service Provider) Register in Cyprus. This registration will allow eToro to offer regulated crypto services to all EU countries through one single entity, eToro (Europe) Digital Assets Ltd, once the EU’s Markets in Crypto-Assets Regulation (MiCA) comes into effect in December 2024.
Dr. Hedva Ber, Deputy CEO at eToro, expressed excitement about the registration and the upcoming implementation of MiCA, stating that it signals the company’s readiness to enter a new era for crypto. With eToro’s global reach and regulation in various markets, Dr. Ber believes that MiCA will bring increased certainty and security for both consumers and reputable businesses in the cryptocurrency space.
eToro considers Europe to be a crucial market, as the majority of its users are based in the region. The platform aims to continue providing European investors with direct access to a diverse range of crypto assets through a streamlined and efficient offering. The CySEC registration will facilitate this goal in a post-MiCA Europe.
It’s important to note that eToro is authorized and supervised by multiple regulatory authorities in various jurisdictions worldwide, including the FCA in the UK, ASIC in Australia, CySEC in Cyprus, GFSC in Gibraltar, and FinCen and FINRA in the United States. Additionally, eToro is registered as a digital asset provider with authorities such as The Bank of Spain and the AMF in France.
eToro is known as a multi-asset investing platform that empowers users to invest, share, and learn. It operates as a collaborative investment community, equipping users with the necessary tools to grow their knowledge and wealth. On eToro, users have the flexibility to hold both traditional and innovative assets and choose their preferred investment methods, whether it be direct trading, portfolio investment, or copying other successful investors.
As eToro prepares to expand its regulated crypto services across the EU, investors can look forward to an enhanced trading experience characterized by increased security and access to a wide range of crypto assets. With the approval of its CySEC registration and the anticipation of MiCA, eToro is positioning itself at the forefront of the evolving cryptocurrency landscape.
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