As part of the settlement, eToro will limit crypto trading in the US to Bitcoin, Bitcoin Cash, and Ether.
US customers will have 180 days to sell other crypto assets before they are removed from the platform.
SEC and FINRA are looking into issues around stock surges and crypto-treasury announcements.
The Securities and Exchange Commission (SEC) announced today (Thursday)
that eToro USA LLC will pay $1.5 million to settle charges related to operating
an unregistered broker and unregistered clearing agency.
The settlement comes as eToro is considering listing its
shares, with the US as a potential destination. The company is currently
exploring an initial public offering (IPO) in either New York or London.
According to eToro, a US listing would provide access to a broader range of
investors compared to the British market.
Federal Requirements Violated
Yoni Assia, CEO, eToro
The charges arise from eToro's trading platform, which
facilitated the buying and selling of certain crypto assets classified as
securities. As part of the settlement, eToro has agreed to cease violating
federal securities laws and will limit the range of crypto assets available for
trading.
According to the SEC’s order, eToro has been operating as
both a broker and a clearing agency since at least 2020. The platform allowed
U.S. customers to trade crypto assets considered securities without complying
with registration requirements under federal law.
“This settlement allows us to move forward and focus on
providing innovative and relevant products across our diversified U.S. business.
U.S. users can continue to trade and invest in stocks, ETFs, options and the
three of the largest cryptoassets,” commented Yoni Assia, eToro’s Co-Founder and CEO.
“As a company serving over 38 million registered users from
more than 75 countries, the terms of the settlement will have a minimal impact
on our global business,” he continued. “Outside of the United States, eToro users will continue
to enjoy access to over 100 cryptoassets.” He reassured that as a global, multi-asset trading and
investing platform, eToro continues to experience strong growth and remains committed
to becoming a public company in the future.
eToro Agrees to Settlement
In response to the SEC’s order, eToro announced that only
Bitcoin, Bitcoin Cash, and Ether will be available for U.S. customers to trade.
The company also confirmed that users will have 180 days to sell other crypto
assets before they are removed from the platform.
In general, US users are not required to take any action.
Only positions that cannot be transferred to the eToro crypto wallet are
affected. This accounts for less than 3% of the total dollar value of US
customers’ cryptoassets. Positions in cryptocurrencies that are transferable to
the eToro crypto wallet can remain open on the eToro platform indefinitely.
The SEC stated that, without admitting or denying the
findings, eToro has agreed to a cease-and-desist order, to pay a $1.5 million
penalty, and, within 187 days of the order, to liquidate any crypto assets
classified as securities that it cannot transfer to its customers, returning
the proceeds to those customers.
“eToro has been offering regulated securities across the
globe since before the invention of crypto,” said the CEO. “As an early adopter and global
pioneer of cryptoassets as well as a significant player in regulated
securities, it is important for us to be compliant and to work closely with
regulators around the world.”
“We appreciate the importance of regulation to
protect consumers,” Assia reassured. “We now have a clear regulatory framework for cryptoassets in
our home markets of the UK and Europe and we believe we will see similar in the
U.S. in the near future. Once this is in place, we will look to enable trading in
the cryptoassets that meet this framework.”
The Securities and Exchange Commission (SEC) announced today (Thursday)
that eToro USA LLC will pay $1.5 million to settle charges related to operating
an unregistered broker and unregistered clearing agency.
The settlement comes as eToro is considering listing its
shares, with the US as a potential destination. The company is currently
exploring an initial public offering (IPO) in either New York or London.
According to eToro, a US listing would provide access to a broader range of
investors compared to the British market.
Federal Requirements Violated
Yoni Assia, CEO, eToro
The charges arise from eToro's trading platform, which
facilitated the buying and selling of certain crypto assets classified as
securities. As part of the settlement, eToro has agreed to cease violating
federal securities laws and will limit the range of crypto assets available for
trading.
According to the SEC’s order, eToro has been operating as
both a broker and a clearing agency since at least 2020. The platform allowed
U.S. customers to trade crypto assets considered securities without complying
with registration requirements under federal law.
“This settlement allows us to move forward and focus on
providing innovative and relevant products across our diversified U.S. business.
U.S. users can continue to trade and invest in stocks, ETFs, options and the
three of the largest cryptoassets,” commented Yoni Assia, eToro’s Co-Founder and CEO.
“As a company serving over 38 million registered users from
more than 75 countries, the terms of the settlement will have a minimal impact
on our global business,” he continued. “Outside of the United States, eToro users will continue
to enjoy access to over 100 cryptoassets.” He reassured that as a global, multi-asset trading and
investing platform, eToro continues to experience strong growth and remains committed
to becoming a public company in the future.
eToro Agrees to Settlement
In response to the SEC’s order, eToro announced that only
Bitcoin, Bitcoin Cash, and Ether will be available for U.S. customers to trade.
The company also confirmed that users will have 180 days to sell other crypto
assets before they are removed from the platform.
In general, US users are not required to take any action.
Only positions that cannot be transferred to the eToro crypto wallet are
affected. This accounts for less than 3% of the total dollar value of US
customers’ cryptoassets. Positions in cryptocurrencies that are transferable to
the eToro crypto wallet can remain open on the eToro platform indefinitely.
The SEC stated that, without admitting or denying the
findings, eToro has agreed to a cease-and-desist order, to pay a $1.5 million
penalty, and, within 187 days of the order, to liquidate any crypto assets
classified as securities that it cannot transfer to its customers, returning
the proceeds to those customers.
“eToro has been offering regulated securities across the
globe since before the invention of crypto,” said the CEO. “As an early adopter and global
pioneer of cryptoassets as well as a significant player in regulated
securities, it is important for us to be compliant and to work closely with
regulators around the world.”
“We appreciate the importance of regulation to
protect consumers,” Assia reassured. “We now have a clear regulatory framework for cryptoassets in
our home markets of the UK and Europe and we believe we will see similar in the
U.S. in the near future. Once this is in place, we will look to enable trading in
the cryptoassets that meet this framework.”
PayPal Applies to Establish Bank Targeting US Retail and Small Business Lending
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
