United States SEC Fines Online Trading Platform eToro $1.5 Million for Providing Unauthorised Securities in Crypto Assets & to Provide Only Bitcoin, Bitcoin Cash & Ether Trading
14th September 2024 | Hong Kong
The United States Securities and Exchange Commission (SEC) has fined online trading platform eToro $1.5 million for providing unauthorised securities in crypto assets, and to provide only Bitcoin, Bitcoin Cash & Ether trading. United States SEC (12/9/24): “The Securities and Exchange Commission today announced that eToro USA LLC has agreed to pay $1.5 million to settle charges that it operated an unregistered broker and unregistered clearing agency in connection with its trading platform that facilitated buying and selling certain crypto assets as securities. eToro has agreed to cease and desist from violating the applicable federal securities laws and will make only a limited set of crypto assets available for trading. The SEC’s order finds that, since at least 2020, eToro operated as a broker and clearing agency by providing U.S. customers the ability, through eToro’s online trading platform, to trade crypto assets being offered and sold as securities, but eToro did not comply with the registration provisions of the federal securities laws. eToro publicly announced that, going forward and subject to the provisions of the SEC’s order in this matter, the only crypto assets that U.S. customers can trade on the company’s platform will be Bitcoin, Bitcoin Cash, and Ether. eToro publicly announced that it will provide its customers with functionality to sell all other crypto assets for only 180 days after the issuance of the SEC’s order. Without admitting or denying the SEC’s findings, eToro agreed to the entry of a cease-and-desist order, to pay a penalty of $1.5 million, and, within 187 days of the order, to liquidate any crypto assets being offered and sold as securities that eToro is unable to transfer to its customers, and return the proceeds to the respective customers.”
“ United States SEC Fines Online Trading Platform eToro $1.5 Million for Providing Unauthorised Securities in Crypto Assets & to Provide Only Bitcoin, Bitcoin Cash & Ether Trading “
United States SEC Fines Online Trading Platform eToro $1.5 Million for Providing Unauthorised Securities in Crypto Assets & to Provide Only Bitcoin, Bitcoin Cash & Ether Trading
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2024 Investment Day
- March 2024 - Hong Kong
- March 2024 - Singapore
- July 2024 - Hong Kong
- July 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Oct 2024 - Hong Kong
- Nov 2024 - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
