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).

This approval enables eToro to offer cryptocurrency services
across the European Union under the Markets in Crypto-Assets Regulation (MiCA),
once the relevant notification is submitted to all EU member states.

eToro Expands with MiCA, MiFID Approval

This new permit allows eToro to operate within the legal
framework of MiCA, which regulates the crypto market and provides a clear set
of rules for trading cryptocurrencies. 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.
Today, the platform offers more than 100 cryptoassets, alongside a wide range
of multi-asset investment products, including stocks, exchange-traded funds
(ETFs), indices, commodities, currencies, and thematic Smart Portfolios.

This article was written by Tareq Sikder at www.financemagnates.com.

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