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Trading Platform eToro Settles With SEC, Limits US Crypto Activity

(Bloomberg) -- EToro USA LLC agreed to pay $1.5 million and allow American customers to only trade only a handful of cryptocurrencies on its platform to settle US Securities and Exchange Commission allegations that it operated as an unregistered broker and clearing agency. Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisFor Tenants, AI-Powered Screening Can Be a New Barrier to HousingHousing’s Worst Crisis in Decades Reverberates Through 2024 RaceAfter a Record Hot Sum

eToro to shut down nearly all crypto trading in settlement with US SEC

(Reuters) -Retail trading platform eToro will stop offering nearly all cryptocurrencies to its customers as part of a settlement with the U.S. Securities and Exchange Commission, the regulator said on Thursday. eToro also agreed to pay a penalty of $1.5 million to settle charges that it operated as an unregistered broker and unregistered clearing agency in connection with its cryptocurrency offerings. The SEC alleged that eToro provided its U.S. customers the ability to trade crypto assets that the regulator deemed to be securities since at least 2020, but did not comply with the registration requirements of federal securities laws.