The popular stock trading platform eToro has agreed to pay $1.5 million to settle charges from the US Securities and Exchange Commission (SEC) related to its unregistered brokerage and clearing agency operations.

As part of the settlement, eToro will be ceasing trading for nearly all crypto assets in the US, with customers only able to trade Bitcoin (BTC), Bitcoin Cash (BCH), and Ether (ETH) tokens.

Customers will have up to 180 days starting September 12 to sell their other crypto assets held on the eToro platform.

This isn't the first regulatory issue for eToro, as the Philippines SEC had previously accused the platform of offering unregistered securities in the country.

The move by eToro to restrict its crypto trading offerings in the US highlights the increasing regulatory scrutiny faced by crypto platforms, as authorities seek to bring the industry under closer oversight.

Source: https://cointelegraph.com/news/e-toro-cease-crypto-trading-sec-settlement

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