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Seeking Alpha 2024-09-12 16:07:51

eToro to limit crypto trading for U.S. customers after SEC settlement

eToro to limit crypto trading for U.S. customers after SEC settlement

Trading platform eToro agreed to pay $1.5M and restrict U.S. customers to trading only a select number of cryptocurrencies in order to settle allegations brought by the Securities and Exchange Commission that it operated as an unregistered broker and clearing agency, the regulator said on Thursday. The complaint alleged that eToro has been operating as an unregistered broker and clearing agency since at least 2020 by enabling U.S. customers to trade crypto assets as securities. Without admitting or denying the allegations, eToro entered into a cease-and-desist order. Going forward, the only crypto assets that U.S. customers can trade on the platform will be bitcoin ( BTC-USD ), bitcoin cash ( BCH-USD ) and ether ( ETH-USD ). eToro will allow its customers to sell all other crypto assets for only 180 days after the issuance of the SEC's order. More on the SEC and Crypto SEC sues two brothers for alleged $60M crypto Ponzi scheme Trump says he'll fire SEC's Gensler, pick crypto lovers for roles SEC sues Plutus Lending over Abra Earn crypto lending product

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