eToro, a global trading and investing platform, has announced that its European subsidiary, eToro (Europe) Ltd, has been granted a permit by the Cyprus Securities Exchange Commission (CySEC).

eToro Expands with MiCA, MiFID Approval

This new permit allows eToro to operate within the legal framework of Markets in Crypto-Assets Regulation (MiCA), which regulates the crypto market and provides a clear set of rules for trading cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. It also ensures the platform's compliance with MiFID, the EU’s directive governing financial markets. These regulations aim to enhance investor protection, provide greater transparency, and increase regulatory oversight.

"We welcome the introduction of MiCA and are proud that with the grant by CySEC of our permit we are able to provide cryptoasset services to our users across the EU. We believe that the regulatory clarity and uniform market rules provided by MiCA will foster greater crypto adoption across Europe while ensuring consumers are fully aware of any associated risks," Avi Sela, Chief Operating Officer - Regulation at eToro, said.

Platform Offers Crypto, Stocks, and ETFs

The company, which has over 38 million registered users in 75 countries, identifies Europe as its largest market. eToro has been an early player in the cryptocurrency space, adding Bitcoin to its platform in 2013.

MiCA is officially live! 🇪🇺

After years of consultation, heated debates, contemplated bitcoin bans, last-minute amendments, and countless votes, MiCA now (actually since Dec 30 2024) officially applies to crypto-asset issuers and service providers in the EU - even if the latter… pic.twitter.com/3ZTH0KjkIC

— Patrick Hansen (@paddi_hansen) January 2, 2025

Today, the platform offers more than 100 cryptoassets, alongside a wide range of multi-asset Multi-Asset Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Read this Term investment products, including stocks, exchange-traded funds (ETFs), indices, commodities, currencies, and thematic Smart Portfolios.

Filing for IPO with SEC

Meanwhile, eToro Group has submitted a draft Registration Statement on Form F-1 to the US Securities and Exchange Commission (SEC) for its planned initial public offering (IPO) of ordinary shares. The number of shares and the price range for the offering have not yet been disclosed, as reported by Finance Magnates.

The IPO will proceed once the SEC completes its review of the Registration Statement, subject to market conditions and other factors. However, eToro has not provided a specific timeline for the offering. The company issued a press release in accordance with Rule 135 under the Securities Act of 1933, clarifying that it does not constitute an offer to sell or solicit offers to buy securities, which will comply with the registration requirements of the Securities Act.