Official SEC announcements or filings

eToro Settles with SEC for $1.5M, Halts Most Crypto Trading Except Bitcoin, Bitcoin Cash, Ether

Sep 12, 2024, 01:40 PM

eToro has reached a settlement with the U.S. Securities and Exchange Commission (SEC) over charges that it operated as an unregistered broker and clearing agency in connection with its crypto asset trading platform. eToro, which scrapped a SPAC deal in 2022, will pay a $1.5 million fine and will cease trading activity in nearly all crypto assets, limiting U.S. customers to trading only Bitcoin, Bitcoin Cash, and Ether. The SEC's order noted that eToro US had around 240,000 customer accounts. The settlement marks a significant regulatory action by the SEC, which continues to intensify its scrutiny of crypto trading platforms.