The trading and investing platform eToro has arrived in Cyprus as a result of CySEC CASP (Crypto Asset Service Provider) authorisation.
Following CySEC clearance, eToro will be able to offer regulated crypto services to all EU nations on a cross-border basis from a single business, eToro (Europe) Digital Assets Ltd., once the EU’s Markets in Crypto-Assets Regulation (MiCA) goes into effect in December 2024.
eToro is authorized and overseen by numerous regulatory bodies across various jurisdictions globally. This comprises:
- UK’s FCA
- (Australia) ASIC
- Cyprus (CySeC)
- The Gibraltar GFSC
- In the US, FinCen and FINRA
Additionally, eToro has registered with a number of municipal authorities as a distributor of digital assets. This includes the AMF (France) and the Bank of Spain.
“This registration signals that we are 100% ready to embrace a new era for crypto once MiCA comes into effect next year,” stated Dr. Hedva Ber, deputy CEO of eToro. As a multinational corporation with regulatory oversight in several areas, we eagerly anticipate the enhanced assurance and protection that MiCA will provide to customers and respectable companies operating in this industry.
“The bulk of eToro’s customers are based in Europe, which makes it a crucial market for us. We want to keep providing European investors with direct access to a variety of crypto assets as part of a diversified portfolio. We will be able to accomplish this in a post-MICA Europe lot more easily with this new CySEC registration. It will also enable us to provide a more simplified and effective service for cryptocurrency investors in Europe.
