TechFlow News, April 1: According to Crowdfund Insider, social trading platform eToro (NASDAQ: ETOR) announced that residents of New York State can now trade cryptocurrencies on its platform. This expansion follows the company’s successful acquisition of New York State’s BitLicense (a cryptocurrency business license) and a money transmitter license, bringing eToro’s cryptocurrency trading services to 48 U.S. states.
Andrew McCormick, Head of eToro U.S., stated: “New York is the heart of global financial markets and a hub for innovation. Achieving full U.S. coverage represents both a strategic milestone and our commitment to responsibly democratizing the next generation of financial markets.”
Notably, in 2024, eToro reached a settlement with the U.S. Securities and Exchange Commission (SEC), agreeing to pay a $1.5 million penalty for operating as an unregistered broker-dealer and clearing agency. Following the settlement, the company delisted most cryptocurrency assets from its U.S. platform and overhauled its compliance strategy.
