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eToro Prepared to Offer European Crypto Services Once MiCA Comes Into Play Following CySEC Approval

eToro, the trading and investing platform, has landed in Cyprus following approval from the CySEC CASP (Crypto Asset Service Provider).

Once the EU’s Markets in Crypto-Assets Regulation (MiCA) comes into effect in December 2024, eToro, as a result of the CySEC approval, will be able to offer regulated crypto services to all EU countries on a cross-border basis from one single entity, eToro (Europe) Digital Assets Ltd.

eToro is authorised and supervised by a number of regulatory authorities in multiple jurisdictions around the world. This includes:

  • FCA (UK)
  • ASIC (Australia)
  • CySeC (Cyprus)
  • GFSC (Gibraltar)
  • FinCen and FINRA (United States)

eToro is also registered as a digital asset provider with various local authorities. This includes The Bank of Spain and the AMF (France).

Dr Hedva Ber, deputy CEO at eToro, said: “This registration signals that we are 100 per cent ready to embrace a new era for crypto once MiCA comes into effect next year. As a global company regulated in various markets around the world, we are very much looking forward to the increased certainty and security that MiCA will offer to both consumers and reputable businesses in this space.

“Europe is a hugely important region for eToro, it’s where the majority of our users are based and we want to continue offering European investors direct access to a wide range of crypto assets as part of a diversified portfolio. This new CySEC registration will make it much easier for us to achieve this in a post-MiCA Europe. Furthermore, it will allow us to create a more streamlined and efficient offering for European crypto investors.”

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