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EToro Secures MiCA License From Cyprus to Offer Crypto Services Across EEA
The approval allows the trading platform to expand its digital asset offerings across all 30 European Economic Area countries.
What to know:
- Trading platform eToro obtained a license under the European Union’s Markets in Crypto-Assets (MiCA) regulation.
- The approval allows the firm to offer crypto trading and custody services across all European Economic Area countries.
EToro said it received regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) framework and will soon be able to provide cryptocurrency trading and custody services across the region. The trading platform announced the approval from the Cyprus Securities Exchange Commission on Wednesday.
The MiCA regulation that requires firms to acquire a crypto asset service provider license (CASP) took full effect in December and established a standardized legal framework for crypto services across the 27-nation trading bloc. Approval under MiCA also opens the doors to Iceland, Liechtenstein, and Norway which are not EU members.
STORY CONTINUES BELOW
The company joins crypto exchanges Bitpanda, OKX and Crypto.com among others who have obtained a MiCA license.
Israel-based eToro, which offers a mix of traditional and crypto trading services, is building a global presence. It obtained a license in New York in 2023 and landed on the U.K. crypto register in 2022.
Disclaimer: This article, or parts of it, was generated with assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Camomile Shumba
Camomile Shumba is a CoinDesk regulatory reporter based in the UK. Previously, Shumba interned at Business Insider and Bloomberg. Camomile has featured in Harpers Bazaar, Red, the BBC, Black Ballad, Journalism.co.uk, Cryptopolitan.com and South West Londoner.
Shumba studied politics, philosophy and economics as a combined degree at the University of East Anglia before doing a postgraduate degree in multimedia journalism. While she did her undergraduate degree she had an award-winning radio show on making a difference. She does not currently hold value in any digital currencies or projects.
AI Boost
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk's AI Policy.
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