eToro Secures MiCA Approval for Cryptocurrency Services in the EU
eToro, the well-known trading platform, has announced that it has received regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) framework. This significant milestone will soon enable the platform to offer cryptocurrency trading and custody services throughout the region. The announcement was made on Wednesday, following the approval granted by the Cyprus Securities and Exchange Commission.
The MiCA regulation, which requires firms to obtain a crypto asset service provider license (CASP), came into full effect in December. It has established a comprehensive and standardized legal framework for crypto services across the 27-nation trading bloc, ensuring a more secure environment for digital asset transactions. Furthermore, this approval under the MiCA framework extends eToro’s reach to include countries like Iceland, Liechtenstein, and Norway, which, despite not being EU members, are part of the regulatory framework.
With this latest development, eToro joins a growing list of cryptocurrency exchanges, including Bitpanda, OKX, and Crypto.com, that have successfully obtained a MiCA license. The Israel-based company, which provides a diverse range of trading services that encompass both traditional and cryptocurrency options, is actively building its global presence. In addition to this recent approval, eToro secured a license in New York in 2023 and was added to the U.K. crypto register in 2022.
Disclaimer: This article, or portions of it, were generated with the assistance of AI tools and have been reviewed by our editorial team to ensure accuracy and compliance with our standards. For further information, please refer to CoinDesk’s comprehensive AI Policy.
