eToro Takes Crypto Trading Nationwide Across 48 States After Winning New York BitLicense

Social trading platform eToro (Nasdaq: ETOR) has opened cryptocurrency trading to New York residents, following approval for a New York State BitLicense and a money transmission license, Crowdfund Insider reported. The move extends eToro's crypto offering to 48 U.S. states. Andrew McCormick, Head of eToro U.S., said: "New York is the heart of the financial markets and a hub for innovation. Completing our full U.S. rollout is both a strategic milestone and a testament to our commitment to responsibly expanding access to the next generation of financial markets." In 2024, eToro reached a settlement with the U.S. Securities and Exchange Commission (SEC), agreeing to pay a $1.5 million penalty over allegations that it operated as an unregistered broker-dealer and clearing agency. After the settlement, eToro removed most cryptocurrency assets from its U.S. platform and updated its compliance approach.