eToro Receives CASP Registration from CySEC
eToro has obtained approval from the Cyprus Securities and Exchange Commission (CySEC) for its Crypto Asset Service Provider (CASP) registration. This move demonstrates eToro’s preparedness to navigate the upcoming crypto regulatory landscape, particularly the Markets in Crypto-Assets (MiCA) regulation set to take effect next year.
“This registration signals that we are 100% ready to embrace a new era for crypto once MiCA comes into effect next year,” said Dr. Hedva Ber, Deputy CEO at eToro.
Dr. Ber also expressed the company’s excitement about the increased certainty and security that MiCA will provide to consumers and reputable businesses in the crypto space. With Europe being a crucial region for eToro, the company aims to continue offering European investors direct access to a diverse portfolio of crypto assets.
MiCA Regulation Enhances Clarity and Security
The forthcoming MiCA regulation, starting in December 2024, will bring clarity and security to the European crypto industry. By obtaining CySEC’s CASP registration, eToro ensures that its platform can consistently provide regulated cryptocurrency services across all European Union countries through its entity, eToro (Europe) Digital Assets Ltd.
Strong Global Presence and Regulatory Oversight
eToro boasts a strong global presence and is subject to oversight by reputable organizations worldwide. The company is authorized and regulated by the UK’s Financial Conduct Authority (FCA), Australia’s ASIC, Gibraltar’s GFSC, as well as U.S. entities like FinCEN and FINRA. Additionally, esteemed institutions such as The Bank of Spain and France’s AMF recognize eToro as a trusted provider of digital assets.
Hot Take: eToro Poised for Success in the Regulated Crypto Landscape
eToro’s CASP registration from CySEC positions the company for success in the upcoming regulated crypto landscape. By proactively embracing MiCA and ensuring compliance with regulatory requirements, eToro aims to provide increased certainty and security to its users while expanding its offerings across Europe. With its strong global presence and regulatory oversight from reputable organizations, eToro has established itself as a trusted platform for digital asset investments. As the crypto industry continues to evolve, eToro’s commitment to regulatory compliance puts it in a favorable position to thrive in this rapidly changing market.
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