eToro, a leading trading platform, has agreed to pay a $1.5 million settlement to the U.S. Securities and Exchange Commission (SEC) to resolve charges that it operated as an unregistered broker and clearing agency, and facilitated trading of certain crypto assets as securities.

As part of the settlement, eToro has agreed to cease and desist from further violations of the applicable federal securities laws and will make only a limited set of crypto assets available for trading by U.S. customers going forward.

The SEC's order found that since at least 2020, eToro had allowed U.S. customers to trade crypto assets that were being offered and sold as securities, without complying with the registration provisions of the federal securities laws.

Moving forward, the only crypto assets that will be available for U.S. customers to trade on eToro's platform are Bitcoin (BTC), Bitcoin Cash (BCH), and Ether (ETH).

The settlement underscores the SEC's ongoing efforts to regulate the cryptocurrency industry and ensure that digital asset trading platforms comply with federal securities laws.

Source: https://www.coindesk.com/policy/2024/09/12/etoro-reaches-15m-sec-settlement-agrees-to-stop-trading-most-cryptocurrencies/

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