Etoro has received regulatory approval under the European Union markets in the Crypto-assets framework.
it Approval The company allows the company to provide crypto services in all 30 European Economic Zone countries. The license was given by Cyprus Securities and Exchange Commission.
The broker can now operate under Europe’s integrated crypto regulatory system. However, the company should inform each member state before offering services in that jurisdiction.
AV Sela, the Chief Operating Officer of Itoro for Regulation, welcomed MICA’s introduction, emphasized its role in increasing consumer protection and market transparency.
“We believe that the regulatory clarity and the same market rules provided by Micah will promote the adoption of more and more crypto throughout Europe, while consumers are fully aware of any affiliated risk,” Sela said.
Etoro, which has more than 38 million registered users, first introduced bitcoin trading in 2013 and now offers more than 100 cryptosets. The company also works under markets in financial instruments directors, ensuring additional regulatory inspection.
Approval follows the recent achievement of Etoro’s SoC 2 Type II compliance certification, which confirms its safety and operational standards in crypto asset custody.
The Micah Framework, which has a full impact in December, requires the firms to obtain a crypto asset service provider license. It establishes a standardized regulatory environment in the European Union, Iceland, Lichenstein and Norway.
With this authority, Etoro is involved in exchanges such as Bitpanda, OKX and Crypto.com in obtaining a MICA license.
