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eToro has obtained a cryptocurrency license in New York and is now offering cryptocurrency trading services in 48 states across the United States
According to Crowdfund Insider, the social trading platform eToro (NASDAQ: ETOR) has announced that residents of New York can now trade cryptocurrencies on its platform. This opening follows the company's successful acquisition of a BitLicense (cryptocurrency operating license) and a money transmission license in New York, making eToro available for cryptocurrency trading in 48 states across the United States.
Andrew McCormick, head of eToro's U.S. division, stated, "New York is the heart of the financial markets and a hub of innovation. Completing our comprehensive layout in the U.S. is both a strategic milestone and a reflection of our commitment to responsibly advancing the next generation of financial market accessibility." It is noteworthy that eToro reached a settlement with the U.S. Securities and Exchange Commission (SEC) in 2024, paying a $1.5 million fine for operating as an unregistered broker and clearing agency. Subsequently, the company delisted most cryptocurrency assets from its U.S. platform and readjusted its compliance strategy.
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