eToro has officially received regulatory approval to offer cryptocurrency trading and custody services across the European Economic Area (EEA). The approval comes under the European Union’s Markets in Crypto-Assets (MiCA) regulation, which aims to provide a standardized legal framework for crypto services across Europe. The Cyprus Securities Exchange Commission granted the license, which eToro announced on Wednesday.
With MiCA taking full effect in December 2023, crypto firms are now required to obtain a Crypto Asset Service Provider (CASP) license to operate within the EU. This approval also extends to countries outside the EU, including Iceland, Liechtenstein, and Norway.
Joining Other Crypto Exchanges with MiCA Licenses
eToro joins other major crypto exchanges, such as Bitpanda, OKX, and Crypto.com, in obtaining a MiCA license. This regulatory approval is part of eToro’s strategy to expand its global presence. In addition to its European expansion, the Israel-based company secured a license in New York in 2023 and was added to the U.K. crypto register in 2022.
With these regulatory milestones, eToro is strengthening its position as a significant player in both traditional and cryptocurrency markets.
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