eToro Gets Regulatory Approval Under EU’s MiCA Framework

eToro Receives Regulatory Approval Under EU’s Markets in Crypto-Assets Framework

eToro, a leading online brokerage firm, has been granted regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) framework. This approval allows eToro to provide crypto services across all 30 European Economic Area countries, marking a significant milestone in the company’s regulatory journey.

The license was granted by the Cyprus Securities and Exchange Commission, enabling eToro to operate under Europe’s unified crypto regulatory system. While this approval does not automatically grant eToro permission to offer services in each member state, the company must notify each jurisdiction before commencing operations.

Enhancing Consumer Protection and Market Transparency

Avi Sela, eToro’s Chief Operating Officer for Regulation, welcomed the introduction of MiCA, highlighting its role in promoting consumer protection and market transparency. According to Sela, “We believe that the regulatory clarity and uniform market rules provided by MiCA will foster greater crypto adoption across Europe while ensuring consumers are fully aware of any associated risks.”

eToro, with over 38 million registered users, has been a prominent player in the crypto market since introducing Bitcoin trading in 2013. The company currently offers more than 100 cryptoassets and operates under the Markets in Financial Instruments Directive, providing additional regulatory oversight.

Security and Operational Standards

The approval follows eToro’s recent achievement of SOC 2 Type II Compliance Certification, which attests to the company’s security and operational standards in crypto asset custody. This certification demonstrates eToro’s commitment to maintaining the highest standards in the industry.

The MiCA framework, which took full effect in December, requires firms to obtain a Crypto Asset Service Provider license. This standardized regulatory environment applies across the EU, Iceland, Liechtenstein, and Norway, ensuring a level playing field for all market participants.

With this authorization, eToro joins exchanges such as Bitpanda, OKX, and Crypto.com in securing a MiCA license, underscoring the company’s dedication to regulatory compliance and customer protection.

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