The U.S. Securities and Exchange Commission reported that eToro has settled charges by agreeing to pay $1.5 million for facilitating trades of crypto assets considered securities.
The SEC found that eToro operated as an unregistered broker and failed to comply with registration provisions, impacting its provision of trading services to U.S. customers.
As a result of the settlement, eToro will limit its trading offerings, only providing access to bitcoin, bitcoin cash, and ether for its U.S. customers.
The agreement mandates eToro to cease and desist from further violations of federal securities laws, reflecting the SEC's ongoing scrutiny of crypto trading platforms.
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