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eToro has obtained a cryptocurrency license in New York State and is now offering cryptocurrency trading services in 48 states in the United States.
Deep Tide TechFlow message. On April 1, according to Crowdfund Insider, social trading platform eToro (NASDAQ ticker: ETOR) announced that residents of the state of New York can now trade cryptocurrencies on its platform. This expansion came after the company successfully obtained New York State BitLicense (a cryptocurrency business license) and a money transmission license; as a result, eToro has since been offering cryptocurrency trading services in 48 states in the United States.
Andrew McCormick, head of eToro’s U.S. division, said: “New York is at the core of financial markets and an innovation hub. Completing our full rollout across the United States is both a strategic milestone and a reflection of our commitment to responsibly expanding the next generation of financial markets.”
Of note is that eToro previously reached a settlement with the U.S. Securities and Exchange Commission (SEC) in 2024, paying a $1.5 million penalty. The reason was that it operated as an unregistered broker and clearing agency. After that, the company removed most cryptocurrency assets from its U.S. platform and recalibrated its compliance strategy.